Yum! Brands CEO David Gibbs to Retire in 2026, Board Begins Succession Planning

Yum! Brands, Inc has announced that Chief Executive Officer David Gibbs plans to retire within the next year. The company’s Board of Directors has formed a succession planning committee to identify a new CEO. Gibbs will continue to lead the company through the transition, with his retirement expected in the first quarter of 2026.

Gibbs said, “During my time as CEO and throughout my 36 years with Yum! Brands, it has been an honor to work alongside this incredibly talented team and our dedicated franchisees to build the most loved, trusted and connected restaurant brands around the world. I set out to strengthen and broaden the appeal of our iconic brands, build industry-leading digital capabilities, dramatically accelerate the pace of profitable new unit development and amplify our people-first culture. I am pleased with the progress we have made on all fronts and know that Yum! Brands is now stronger and more resilient than ever. I look forward to supporting the next CEO candidate and ensuring the Company is set up for continued success. In the meantime, my focus remains on executing our strategy and delivering against our growth commitments.”

Gibbs, who has been CEO since January 2020, led Yum! Brands through its digital transformation, expanded its development strategy, and maintained shareholder returns while navigating challenges such as the COVID-19 pandemic. Under his leadership, digital sales exceeded $30 billion in 2024, with over 50 percent of sales coming through digital platforms. The company also tripled the pace of annual net new unit development, surpassing 61,000 restaurant locations worldwide.

Brian Cornell, Non-Executive Chairman of Yum! Brands’ Board of Directors and Chairman and CEO of Target Corporation, acknowledged Gibbs’ contributions to the company. “Along with the entire Board of Directors, I commend David for his dedication to Yum! Brands and applaud his transformative impact on the Company – not just in his time as CEO but throughout the entirety of his nearly four-decade career with Yum! Brands. The Board is committed to overseeing a thorough succession planning process and appreciates David’s continued leadership of the business as well as the ample timeline provided to ensure a seamless leadership transition, ”said Cornell.

Yum! Brands, which operates KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, will continue its search for a successor while focusing on its strategic goals.