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Yum! Brands CFO to resign

Yum! Brands Chief Financial Officer Patrick Grismer will step down from his position, effective Feb. 19, the parent company of Taco Bell, KFC and Pizza Hut announced Monday.

A successor to Grismer, who was named CFO in 2012, has not yet been identified, though the company said it will consider both internal and external candidates for the job.

“Pat has added tremendous value as CFO of our company and has been an excellent partner to me,” Yum! Brands CEO Greg Creed said in a statement. “I respect his personal decision to move to be geographically closer to family members, and I wish him all the best.”

Yum! Brands recently announced that it would spin off its business segment in China, where food-safety scares and other factors had been a burden to sales.

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