Yum! Brands appoints Ranjith Roy as CFO, Chris Turner to take over as CEO

Yum Brands, the parent company of KFC, Pizza Hut, and Taco Bell, announced a major leadership shuffle on Tuesday with the appointment of Ranjith Roy as Chief Financial Officer (CFO), Reuters reported.

Roy replaces Chris Turner, who officially takes over as CEO from October 1, succeeding long time leader David Gibbs.

Also Read: Chris Turner to take helm as Yum! Brands CEO

Roy brings a strong financial pedigree to the role. Before joining Yum Brands in 2024 as chief strategy officer and treasurer, he served as CFO at the gourmet food e-commerce marketplace Goldbelly and spent more than 15 years at Goldman Sachs.

In a parallel move, Yum also promoted Sean Tresvant to chief consumer officer and CEO of Taco Bell, underlining the company's focus on strengthening its brand leadership.

The leadership changes come at a challenging time for the Louisville, Kentucky-headquartered company, which operates around 61,000 restaurants worldwide.

In August, Yum reported second-quarter earnings that missed Wall Street estimate, citing higher ingredient costs and muted consumer demand, factors that pressured sales across its major divisions, including Taco Bell.

Also Read: Yum! Restaurants India reduces ad spend, posts profit in FY24 after stake sale in Devyani International

Also Read: Yum! Brands, Inc.'s worldwide digital sales approached $8 billion in the March quarter