Yum Brands on Tuesday said that CFO Chris Turner will take over as the company’s CEO in October.
Turner will take over for David Gibbs, who announced his retirement in March. Gibbs will remain as an advisor to the owner of Taco Bell, KFC and Pizza Hut until the end of 2026, the company said.
Turner has been CFO of the Louisville, Kentucky-based Yum Brands since 2019. He has been instrumental in many of the company’s major initiatives, notably the creation of Byte by Yum, the company’s AI-driven restaurant technology platform. The company also launched a global Supply Chain Center of Excellence.
“I’m deeply honored to step into the role of CEO at Yum Brands and incredibly grateful for the opportunity to lead this global company with such iconic brands,” Turner said in a statement.
Gibbs in a statement said that Turner has “demonstrated deep knowledge of our business, strong values and a clear commitment to growth. I can’t think of a better person to guide Yum to its next chapter, and I look forward to supporting a smooth and successful transition.”
Before he came to Yum, Turner led PepsiCo’s retail and e-commerce business with Walmart in the U.S. and more than 25 countries. He also spent more than 13 years as a consultant in Dallas with McKinsey & Co.
Chris Turner | Yum Brands
He will take over a company that has two main growth engines: KFC international and Taco Bell. KFC international has grown worldwide largely through aggressive unit growth, particularly in China, the chain’s largest market. Taco Bell, meanwhile, is the fourth largest restaurant chain in the U.S. and has started to gain traction internationally.
At the same time, Yum’s concepts have struggled in the U.S., notably flagship KFC, whose headquarters are being moved to Plano, Texas, alongside Pizza Hut—which itself has struggled domestically amid low unit volumes and an increasingly difficult market for pizza delivery.
Gibbs has been CEO of Yum since January 2020 and has guided a company that had shifted into the operator of mostly franchised brands. Gibbs guided Yum through the pandemic and through a digital transformation.
Over 50% of the company’s orders at its four brands come through digital channels, surpassing $30 billion in sales last year. Yum’s stock is up about 41% since he took the helm.
“David led the company during unprecedented times all while strengthening, transforming and growing the business, with Chris as a key partner,” Brian Cornell, chairman of Yum’s board, said in a statement. He called Turner “a proven leader with a deep understanding of the business, strategic expertise, financial acumen and unique perspectives that will help accelerate our growth.”
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