Yum Brands announced Tuesday that Chris Turner, the company’s current chief financial officer, will become CEO starting October 1, succeeding longtime executive David Gibbs.
Gibbs will serve as an advisor until 2026 after leading the parent company of KFC and Taco Bell through digital expansion and pandemic challenges. Turner has been the CFO since 2019 and has experience as a leader at PepsiCo and McKinsey & Co.
Turner and Gibbs worked together to modernize Yum’s restaurant operations by introducing an AI-driven tech platform that enhanced digital ordering and kitchen efficiency and menu planning. Under Gibbs’ leadership, digital channels surpassed 50% of company sales.
The company’s stock price has increased by 41% since Gibbs took over as CEO and has risen 5% this year. Taco Bell leads the restaurant industry through its affordable meals and popular Tex-Mex food items during difficult market conditions.
Turner takes over Yum at a time when the company faces changing consumer preferences and market competition and increasing expenses for labor and ingredients. The company will depend on his financial expertise and digital transformation abilities to achieve growth across its worldwide brands.
