CEO of Yum! Brands to retire next year

The chief executive of one of the largest restaurant companies is stepping down.

David Gibbs will retire as CEO of Yum! Brands, Inc., the parent company of KFC, Taco Bell, Pizza Hut and Habit Burger & Grill, this year after more than five years at the helm and 36 years with the company in a myriad of roles. The company’s board of directors has established a succession planning committee and will work to identify a replacement. 

Gibbs will continue leading the company throughout the search process until his retirement, expected in the first quarter of 2026.

Gibbs, who has been spent more than 36 years at Yum Brands, has served as CEO since January 2020. The company credits him for successfully navigating it through the COVID-19 pandemic and an increasingly complex operating environment, making the company a top performer in the restaurant industry. 

During Gibbs’ tenure, digital sales at Yum! Brands surpassed $30 billion in 2024 with over 50% of sales through digital channels, while the pace of annual net new unit development tripled.

“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,” said Brian Cornell, non-executive chairman of the Yum! Brands board of directors and chairman and CEO of Target Corporation. “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.”