News

Yum! Brands' incoming CEO named as director of the board

November 21, 2014

Yum! Brands has named Greg Creed, 57, as director of the board. Creed will take over the company's helm as CEO on Jan. 1.

Additionally, the company appointed Elane B. Stock, 50, to its board. Stock is the group president of Kimberly-Clark International, comprising its operations in Asia-Pacific, Latin America, Middle East, Europe and Africa.

Both board appointments are effective immediately.

"I'm very pleased the board today appointed Greg Creed as a director of our company, furthering our seamless leadership transition," Chairman and CEO David Novak said in a news release. "Greg walks the talk of our culture, is a visionary business leader and will make an outstanding director and CEO of Yum! Brands."

Creed currently serves as CEO of Taco Bell and is a 20-year veteran with the company.

Prior to joining Kimberly Clark as chief strategy officer, and later as president, Kimberly-Clark Professional, Stock previously served in management positions at Georgia Pacific, McKinsey & Company and the American Cancer Society.

41-cent dividend declared

Also this week, Yum! Brands' board authorized the company to repurchase up to $1 billion in additional shares of common stock and declared a dividend of 41 cents per share of common stock. The quarterly dividend will be distributed Feb. 6 to shareholders of record at the close of business on Jan. 16.

Since initiating a dividend in 2004, Yum! has increased its dividend at a double-digit percentage rate each of the past 10 years, according to a news release.