updated - August 5, 2021 Thursday EDT
Yum! Brands announced the new global CEO of its subsidiary Pizza Hut Inc.
David Gibbs will take over as CEO on Jan. 1, after current chief executive Scott Bergren retires at the end of the year. Gibbs is currently the president of Pizza Hut's U.S. operations.
Chairman and CEO of Yum! Brands, David C. Novak, said, "David Gibbs is an accomplished leader with a proven track record of success and considerable experience in the restaurant industry. He has been a consistent growth driver, has a deep passion for the Pizza Hut brand and lives our culture."
Novak said he's confident that Gibbs can widen the appeal and increase the category level of Pizza Hut in the global scale. Pizza Hut has been struggling with sales in the U.S. In the last trading, its shares slip to $71.62.
Gibbs has been with Yum! Brands since 1989. Before being Pizza Hut U.S. President, his experience with Yum! Brands included leading Finance, IT, Supply Chain and Development, gaining management responsibilities for several international markets, and serving as the President and Chief Financial Officer of the brand.
In the press release, Gibbs said, "I'm thrilled about continuing to work alongside my entire management team, as well as with our franchise and corporate partners, to move our brand forward all over the world."
Aside from Gibbs, there will be other employees moving position. Tracy Skeans, who served as Chief People Officer Pizza Hut, Global, will be the president of Pizza Hut Internation starting January 1. Novak will also step down as CEO of Yum! Brands, and taking over his role is Greg Creed, head of Taco Bell chain. Gibbs will be reporting directly to Creed from the first day of 2015.
Started in Wichita, Kansas in 1958, Pizza Hut has more 15,000 restaurants in 93 countries, with $12 billion global sales.
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