Yum! Brands announces the appointment of Tanya L. Domier to its Board of Directors

Louisville, KY, 2017-Nov-24 — /EPR Retail News/ — Yum! Brands, Inc. (NYSE: YUM) today announced the appointment of Tanya L. Domier to its Board of Directors, effective January 1, 2018. Ms. Domier is Chief Executive Officer of Advantage Solutions (Advantage), a leading North American provider of outsourced sales, marketing and business solutions to consumer goods manufacturers and retailers.

“Tanya’s extensive sales and marketing background, along with her leadership experience successfully running a customer-driven business, make her an excellent addition to the Yum! Brands Board,” said Robert Walter, Non-Executive Chairman of Yum! Brands. “We’re thrilled to have Tanya join us during this exciting and transformative time for our company as we continue to evolve as the restaurant industry’s leading global franchisor.”Greg Creed, Chief Executive Officer of Yum! Brands, said, “Tanya is a talented executive with a customer-focused and growth mindset. We look forward to the insights she will bring as we rapidly transform into a more focused, more franchised and more efficient company in order to strengthen and grow KFC, Pizza Hut and Taco Bell globally and deliver more growth to our shareholders.”

Ms. Domier, 51, was named Advantage’s CEO in January 2013 after serving as its President and Chief Operating Officer since 2010. Under Ms. Domier’s leadership, Advantage is developing digital technology solutions to help support brands and retailers in addressing the challenges they face in today’s omni-channel world. After the recently announced, pending acquisition of Daymon Worldwide, Advantage will constitute the only global solutions company with both brand-centric and retailer-centric services. Earlier in her career, Ms. Domier led the formation of Advantage’s marketing division, which has risen to become the top-ranked promotions and experiential agency in the U.S. according to Ad Age.

Ms. Domier joined Advantage in 1990 from The J.M. Smucker Company and has held a variety of executive-level positions in sales, marketing and operations. In addition to her duties as CEO, Ms. Domier is a member of the Board of Directors of Nordstrom, Inc. and of Enactus, an international nonprofit organization promoting entrepreneurship for college students.

Yum! Brands, Inc., based in Louisville, Kentucky, has over 44,000 restaurants in more than 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America. In 2017, Yum! Brands was named to the Dow Jones Sustainability North America Index and among the top 100 Best Corporate Citizens by Corporate Responsibility Magazine. The company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development.

RELEASE NOTICE
The releases contained on this page may contain dated information. Readers are cautioned that the releases on this page are maintained here solely for the purposes of providing historical background about Yum! Brands, its business and product offerings. As the releases may contain dated information, they should not be relied upon as providing accurate or current information. Yum! Brands disclaims any intention or obligation to update or revise any of the information contained in any of the releases on this page, whether as a result of new information, future events or otherwise.

SOURCE: Yum! Brands RSC

For Yum! Media Inquiries, please call 502-874-8200

Yum! Brands elects Christopher M. Connor to its Board of Directors

Louisville, KY, 2017-May-23 — /EPR Retail News/ — Yum! Brands, Inc. (NYSE: YUM) announced that Christopher M. Connor was elected to its Board of Directors at the Company’s annual meeting of shareholders today (May 19, 2017).

“Chris’ executive leadership and global retail experience make him a strong addition to the Yum! Brands Board,” said Robert Walter, Non-Executive Chairman of Yum! Brands. “We are thrilled to have Chris join us during this exciting time for Yum! Brands, as we continue to evolve as the restaurant industry’s leading global franchisor.”Greg Creed, Chief Executive Officer of Yum! Brands said, “Chris is a talented and seasoned retail veteran who led Sherwin-Williams for many years. We look forward to the experience and insights he will bring as we execute our multi-year strategy to become a more focused, more franchised and more efficient company with a uniquely powerful and predictable free cash flow growth profile.”

Mr. Connor, 61, served as Executive Chairman of The Sherwin-Williams Company, a global manufacturer of paint, architectural coatings, industrial finishes and associated supplies, until 2016. Mr. Connor held a number of executive positions at Sherwin-Williams beginning in 1983. He served as Chief Executive Officer from 1999 to 2015, Chairman from 2000 to 2015, and served as Executive Chairman during 2016. Mr. Connor is Chairman of the Rock & Roll Hall of Fame in Cleveland and serves on the board of Eaton Corporation plc.

2016 was a landmark year for Yum! Brands as it successfully completed the separation of Yum China as an independent and powerful growth company. In addition, Yum! Brands launched a new multi-year strategic transformation plan to become a more focused, more franchised and more efficient company in order to strengthen and grow its KFC, Pizza Hut and Taco Bell brands around the world.

Yum! Brands, Inc., based in Louisville, Kentucky, has over 43,500 restaurants in more than 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America. In 2017, Yum! Brands was named among the top 100 Best Corporate Citizens by Corporate Responsibility Magazine. The company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in international retail development.

RELEASE NOTICE

The releases contained on this page may contain dated information. Readers are cautioned that the releases on this page are maintained here solely for the purposes of providing historical background about Yum! Brands, its business and product offerings. As the releases may contain dated information, they should not be relied upon as providing accurate or current information. Yum! Brands disclaims any intention or obligation to update or revise any of the information contained in any of the releases on this page, whether as a result of new information, future events or otherwise.

Contact:

Keith Siegner
Vice President
Investor Relations & Corporate Strategy
(888) 298-6986

Elizabeth Grenfell
Director
Investor Relations
(888) 298-6986

Source: Yum! Brands, Inc.

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Sustainability: Yum! Brands one of the top public companies on the 2017 100 Best Corporate Citizens List

Louisville, KY, 2017-Apr-24 — /EPR Retail News/ — Yum! Brands has been named one of the top public companies on the 2017 100 Best Corporate Citizens List by Corporate Responsibility Magazine for its ongoing commitment to sustainability.

“We are honored to be recognized by Corporate Responsibility Magazine as one of the year’s top socially and environmentally responsible companies,” said Roger McClendon, Chief Sustainability Officer for Yum! Brands. “This recognition demonstrates our commitment to being a good corporate steward focused on building sustainable brands. We’re on a journey to continuously improve and are making courageous decisions on the commitments our consumers and stakeholders truly care about in our food, people, community and environment.”

The 100 Best Corporate Citizens List is based on 260 data elements among seven data categories: climate change, employee relations, environment, finance, governance, human rights, and philanthropy and community support. View the full list of companies recognized here.

Yum! Brands has a long standing commitment to building distinctive, relevant brands that people trust and champion, demonstrated through the Company’s recent announcements on Sustainable Sourcing and Supply and Expanded Parental Time-Off.

More information on Yum! Brands’ responsibility efforts can be found at www.yum.com/responsibility.

About Yum! Brands, Inc.
Yum! Brands, Inc., based in Louisville, Kentucky, has over 43,500 restaurants in more than 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America. The company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in international retail development.

Source: Yum! Brands, Inc.

Yum! Brands, KFC, Pizza Hut and Taco Bell employees across U.S. to benefit from the company’s expanded parental time-off policy

Louisville, KY, 2017-Feb-28 — /EPR Retail News/ — Yum! Brands (NYSE: YUM) today (February 27, 2017) announced an expanded parental time-off policy as part of the Company’s ongoing commitment to its people-first culture and investment in its employees. The expanded parental time-off policy offers birth mothers 18 weeks of fully paid time away from work, including six weeks of “baby bonding” time. In addition, the policy offers six weeks of fully paid “baby bonding” time away from work to fathers, partners, adoptive and foster parents.

Yum! Brands, KFC, Pizza Hut and Taco Bell employees at its U.S. headquarters in Louisville, Plano, Texas, and Irvine, Calif., as well as other above restaurant leaders across the country who are employed by the company can take advantage of the policy effective immediately.“As we transform Yum! Brands into a more growth-focused brand builder and global franchisor, investing in our unrivaled culture while engaging and attracting talent is a top priority,” said Tracy Skeans, Chief Transformation and People Officer, Yum! Brands. “This expanded parental time off and baby bonding benefit builds on our strong legacy of investing in our people and culture to fuel great results and continuously providing meaningful ways to help our employees be and contribute their best at work and at home.”

In addition to the expanded parental time-off policy, Yum! Brands recently started offering increased flexibility to corporate employees with year-round half-day Fridays and a minimum of four weeks paid vacation plus two additional bonus weeks in an employee’s 10th, 20th or 30th year of service. The Company also offers a range of other benefits to support working parents and families including 24/7, 365-day access to a doctor through Teladoc, financial support for adoption services and infertility treatments, autism support services, daycare facilities and a host of wellness programs.

About Yum! Brands, Inc.
Yum! Brands, Inc., based in Louisville, Kentucky, has over 43,500 restaurants in more than 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America. The company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in international retail development.

RELEASE NOTICE

The releases contained on this page may contain dated information. Readers are cautioned that the releases on this page are maintained here solely for the purposes of providing historical background about Yum! Brands, its business and product offerings. As the releases may contain dated information, they should not be relied upon as providing accurate or current information. Yum! Brands disclaims any intention or obligation to update or revise any of the information contained in any of the releases on this page, whether as a result of new information, future events or otherwise.

Contact:  502-874-8200

Source: Yum! Brands, Inc.

Yum! Brands to outline development plans for its iconic global brands KFC, Pizza Hut and Taco Bell

Louisville, KY, 2016-Oct-15 — /EPR Retail News/ — Yum! Brands, Inc. (NYSE: YUM) will announce today (October 11, 2016) at its annual investor conference in New York City the Company’s strategic transformation plans to drive growth of its KFC, Pizza Hut and Taco Bell brands following the separation of its China business, currently expected to be completed after the close of business on October 31, 2016. Yum! Brands will outline how the Company is sharpening its focus on the development of its three iconic global brands, increasing its franchise ownership and creating a leaner, more efficient cost structure. The Company will also provide an update for returning capital to shareholders.

“Our mission is to build the world’s most loved, trusted and fastest-growing restaurant brands,” said Greg Creed, Chief Executive Officer of Yum! Brands. “The transformation we are announcing today is a significant investment in our future designed to build and strengthen KFC, Pizza Hut and Taco Bell around the world and to create even more long-term value for our shareholders. As a ‘pure play’ franchisor, the transformed Yum! Brands will become more efficient and capital light with an optimized capital structure, improved cash flow and laser-like focus on our key strategies to drive same-store sales and new unit growth worldwide.”

Major features of the Company’s transformation and growth strategy involve being more focused, franchised and efficient.

  • More Focused. Four growth drivers will form the basis of Yum! Brands’ strategic plans and repeatable business model to accelerate same-store sales growth and net-new restaurant development at KFC, Pizza Hut and Taco Bell around the world over the long term. The Company will focus on becoming best-in-class in:
    • Building Distinctive, Relevant Brands, by increasing investment in consumer insights, core product innovation, digital excellence and initiatives that strengthen the quality, convenience and appeal of the customer experience;
    • Developing Unmatched Franchise Operating Capability, by strengthening how we equip and recruit the best restaurant operators to deliver great customer experiences, and build and protect our brands;
    • Driving Bold Restaurant Development through partnerships with growth-minded franchisees who can expand and penetrate markets with modern restaurants, strong economics and value; and
    • Growing Unrivaled Culture and Talent to strengthen the customer experience and franchise success with best-in-class people capability and culture.
  • More Franchised. Partnering with growth-minded franchisees, Yum! Brands will increase franchise restaurant ownership from 77% currently to 93% at the time of the separation of the China business to at least 98% by fiscal year ending 2018, with a focus on equipping and recruiting the best restaurant operators in the world to deliver great customer experiences and drive brand growth.
  • More Efficient. The Company will revamp its financial profile, improving the efficiency of its organization and cost structure globally, by:
    • Reducing annual capital expenditures from ~$500 million (2015 Pro Forma post-separation) to ~$100 million (FYE 2019);
    • Reducing G&A by a cumulative ~$300 million by FYE 2019; and
    • Maintaining optimized capital structure of ~5.0x EBITDA leverage.

Mr. Creed continued, “The separation of our China business provided a once-in-a-lifetime opportunity to review our operating model and consider all possibilities available under our new structure. The transformed Yum! Brands will maintain its geographic diversity with continued, meaningful exposure to the growth potential of the world’s largest consumer market, China, but with greater revenue stability by leveraging our four growth drivers. We will reinforce the distinctiveness of our brands and their relevance to customers, select the highest potential franchisees and help drive their success, expand more profitably in key markets across the globe and bolster training and talent initiatives to foster the culture that will be especially critical as we evolve into a highly franchised growth company.”

Capital Return Program Update
Following through on its previously announced plan to return $6.2 billion of capital to shareholders (excluding dividends) in connection with the separation of its China business, Yum! Brands has repurchased approximately $5.5 billion in shares at an average price of approximately $81, reducing its share count by approximately 16% as of October 10, 2016. The Company is also expanding its plan to return capital to shareholders and now expects to return a total of $13.5 billion (including dividends) between Q4 2015 and 2019.

 Separation of the China Business
After the separation of the China business, Yum China Holdings, Inc. will become a licensee of Yum! Brands in Mainland China. Yum China will have exclusive rights to KFC, China’s leading quick-service restaurant concept, Pizza Hut, the leading casual dining brand, and Taco Bell, which is expanding globally but is not yet in China. It will also own the Little Sheep and East Dawning concepts. Yum China has more than 7,300 restaurants and more than 400,000 employees in over 1,100 cities, and generated over $8 billion in system sales in 2015. The standalone company, Yum China, is expected to begin trading “regular way” on the New York Stock Exchange under the symbol “YUMC” on November 1, 2016.

In addition to Mr. Creed and other senior Yum! Brands leaders, the Yum China leadership team will also speak at the investor conference about their growth plans, as described in a release issued separately today.

Today’s presentations can be followed live via webcast beginning at 8:00 a.m. EDT at:
http://edge.media-server.com/m/p/8vmtxvkm.

About Yum! Brands
Yum! Brands, Inc., based in Louisville, Kentucky, has more than 43,000 restaurants in almost 140 countries and territories. Yum! Brands is ranked #218 on the Fortune 500 List with revenues of over $13 billion in 2015 and is one of the Aon Hewitt Top Companies for Leaders in North America.  The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories.  Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development.

Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this communication contain “forward-looking statements.” Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements often include words such as “may,” “will,” “estimate,” “intend,” “seek,” “expect,” “project,” “anticipate,” “believe,” “plan,” “could,” “target,” “predict,” “likely,” “should,” “forecast,” “outlook,” “model,” “ongoing” or other similar terminology. Forward-looking statements are based on our current expectations, estimates, assumptions or projections concerning future results or events, including, without limitation, the planned separation of the Yum! Brands and Yum China businesses, the timing of such separation, the future earnings and performance as well as capital structure of Yum! Brands or any of its businesses, including the Yum! Brands and Yum China businesses on a stand-alone basis if the separation is completed and the intended future plans and expectations for Yum! Brands following the separation of the China businesses as described in this news release. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or projections will be achieved. Factors that could cause actual results and events to differ materially from our expectations and forward-looking statements are, in addition to those noted above, included in reports filed with the SEC by Yum! Brands from time to time, including those discussed under the heading “Risk Factors” in our most recently filed reports on Form 10-K and 10-Q, as well as in the Form 10 filed with the SEC by Yum China. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. We are not undertaking to update any of these statements.

Analysts are invited to contact:
Keith Siegner
Vice President
Investor Relations and Corporate Strategy
888-298-6986

Elizabeth Grenfell
Director
Investor Relations
888-298-6986

Members of the media are invited to contact:
Virginia Ferguson
Director Public Relations
502-874-8200

Source: Yum! Brands, Inc.

Yum! Brands Board of Directors approve separation of its China business, now owned by Yum China Holdings, Inc.

LOUISVILLE, KY, 2016-Sep-30 — /EPR Retail News/ — Yum! Brands, Inc. (NYSE: YUM) today (September 26, 2016) announced that its Board of Directors has approved the previously announced separation of its China business, now owned by Yum China Holdings, Inc. (Yum China), from Yum! Brands, which is currently expected to occur after the close of business on October 31, 2016. Yum China expects to begin trading “regular way” as an independent company beginning November 1, 2016, on the New York Stock Exchange (NYSE) under the ticker symbol “YUMC.” Yum! Brands expects “when-issued” trading for both Yum! Brands and Yum China to begin on the NYSE on October 17, 2016, under the symbol “YUM WI” for Yum! Brands and “YUMC WI” for Yum China.

Yum! Brands also announced an increase in the Company’s dividend.

“We are moving full steam ahead with the separation of Yum China, establishing two powerful, independent and focused growth companies dedicated to building on our brand strengths and unlocking the full value of each business for our shareholders,” said Greg Creed, Chief Executive Officer of Yum! Brands. “As one of the world’s largest restaurant companies, Yum! Brands will continue to focus on expanding the presence and performance of KFC, Pizza Hut and Taco Bell as a primarily-franchised business to deliver enhanced value to shareholders.”

“This is an exciting time for Yum China as we approach our launch as a new, independent public company,” said Micky Pant, Chief Executive Officer of Yum China. “Yum China has a leading position in the Chinese market, and we see tremendous opportunities to leverage our well-recognized brands and decades of experience to drive growth. We are all energized to achieve Yum China’s full potential and create sustained value for shareholders.”

Returning Capital to Shareholders

The Yum! Brands Board also declared an increased dividend of $0.51 per share, payable on November 4, 2016, to shareholders of record as of the close of business on October 19, 2016. This dividend represents an 11% increase from the Company’s previous quarterly dividend of $0.46 per share. Since initiating a dividend in 2004, Yum! Brands is one of a select group of S&P 500 companies to annually increase its dividend at a double-digit percentage rate.

Since Yum! Brands announced its intention to separate Yum China, the Company has repurchased approximately $5.1 billion in shares at an average price of approximately $80, reducing its share count by approximately 15% as of September 23, 2016. Yum! Brands expects to repurchase an additional $1.1 billion in shares before the end of 2016 to achieve its previously announced plan to return $6.2 billion of capital to shareholders (excluding dividends) in connection with the separation of its China business.

Additional Details on Approval of Yum China Separation

The Yum! Brands Board has approved a distribution of one share of Yum China common stock for each share of Yum! Brands common stock held at the close of business on October 19, 2016, the record date for the distribution. No fractional shares of Yum China common stock will be issued. Instead, the distribution agent will aggregate fractional shares of Yum China common stock and sell the whole shares in the open market. The aggregate net cash proceeds of the sales will be ratably distributed to those shareholders who would otherwise have received fractional shares of Yum China common stock.

Yum! Brands shareholders are not required to take any action to receive the shares of Yum China common stock in the distribution, and they will not be required to surrender or exchange their Yum! Brands shares. Importantly, the number of Yum! Brands shares owned by each shareholder will not change as a result of the distribution.

Yum! Brands intends for the distribution of Yum China common stock to be tax-free for its shareholders, except with respect to any cash received in lieu of fractional shares, and expects to complete the distribution after the close of business on October 31, 2016. The separation and distribution remain subject to the satisfaction or waiver of certain conditions and remains subject to the sole discretion of the Yum! Brands Board.

About Yum! Brands
Yum! Brands, Inc., based in Louisville, Kentucky, has nearly 43,000 restaurants in almost 140 countries and territories. Yum! Brands is ranked #218 on the Fortune 500 List with revenues of over $13 billion in 2015 and is one of the Aon Hewitt Top Companies for Leaders in North America. The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development.

About Yum China Holdings, Inc.
Yum China Holdings, Inc. will become a licensee of Yum! Brands in Mainland China. It will have exclusive rights in Mainland China to KFC, China’s leading quick-service restaurant concept, Pizza Hut, the leading casual dining brand, and Taco Bell, which is expanding globally but is not yet in China. It will also own the Little Sheep and East Dawning concepts outright. The new company will be well positioned for growth thanks to its strong competitive position, integration of its brands into Chinese popular culture and consumers’ daily lives, expanding geographic footprint in China and existing operational expertise. It will have a strong capital position and no external debt and expects to continue growing its system sales and profits by adding new restaurants and through growing same-store sales. Yum China has more than 7,200 restaurants in over 1,100 cities in China and generated over $8 billion in system sales in 2015. The growth of consumption in China is being fueled by a new generation of younger consumers who are digitally sophisticated and brand driven. The additional growth of the middle class and urban population in China is expected to create the world’s largest market for restaurant brands, with Yum China poised to be the market leader.

Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this communication contain “forward-looking statements.” Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements often include words such as “may,” “will,” “estimate,” “intend,” “seek,” “expect,” “project,” “anticipate,” “believe,” “plan,” “could,” “target,” “predict,” “likely,” “should,” “forecast,” “outlook,” “model,” “ongoing” or other similar terminology. Forward-looking statements are based on our current expectations, estimates, assumptions or projections concerning future results or events, including, without limitation, the planned separation of the Yum! Brands and Yum China businesses, the timing of such separation, the future earnings and performance as well as capital structure of Yum! Brands or any of its businesses, including the Yum! Brands and Yum China businesses on a stand-alone basis if the separation is completed. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or projections will be achieved. Factors that could cause actual results and events to differ materially from our expectations and forward-looking statements are included in reports filed with the SEC by Yum! Brands from time to time, including those discussed under the heading “Risk Factors” in our most recently filed reports on Form 10-K and 10-Q, as well as in the Form 10 filed with the SEC by Yum China. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. We are not undertaking to update any of these statements.

Contacts:
Yum! Brands, Inc.
Investor Relations:
Keith Siegner
888-298-6986
Vice President, Investor Relations and Corporate Strategy

Elizabeth Grenfell
888-298-6986
Director Investor Relations

Media Relations:
Virginia Ferguson
502-874-8200
Director Public Relations

Source: Yum! Brands, Inc.

Yum! Brands: Primavera Capital Group and Ant Financial Services Group to invest $460 million in Yum China

LOUISVILLE, KY and SHANGHAI, 2016-Sep-07 — /EPR Retail News/ — Yum! Brands, Inc. (NYSE: YUM) today (September 2, 2016) announced that it has entered into agreements with Primavera Capital Group, a China-based global private equity firm, and Ant Financial Services Group, one of the world’s leading online and mobile financial services providers that operates the widely used Alipay mobile payments platform, to invest a total of $460 million in Yum China, concurrent with the completion of Yum China’s spinoff from Yum! Brands.

The spinoff and concurrent completion of the Primavera and Ant Financial investments are expected to occur on October 31, 2016, with Yum China to commence trading on the New York Stock Exchange as an independent company on November 1, 2016, under the ticker symbol “YUMC.”

Under the terms of the agreements, Primavera and Ant Financial will invest $410 million and $50 million, respectively, in Yum China. The final number of shares issued to Primavera and Ant Financial will be subject to a post closing adjustment such that the effective price will be equal to an 8% discount to the volume-weighted average trading price of Yum China’s equity value during the period commencing 31 days and ending 60 days following completion of the spinoff (subject to a collar mechanism limiting the minimum and maximum shares to be issued). Primavera and Ant Financial will also receive two tranches of warrants to acquire shares of Yum China common stock reflecting approximately 2% equity ownership interest (in the aggregate) in each tranche to be exercisable in the five-year period following the issuance of those warrants, with strike prices correlating to equity values of $12 billion and $15 billion.

The Company also announced that founder of Primavera Dr. Fred Hu, former Chairman of Greater China at Goldman Sachs, will become Non-Executive Chairman of the Board of Yum China.

“We have long admired the Yum China business and are looking forward to collaborating with the Board and management to realize the company’s full potential,” said Dr. Hu of Primavera. “Yum China is an established leader in the retail and restaurant industry which we believe is poised for continued strong growth and unit expansion as cities across China invest in new transportation hubs, shopping malls and other physical and electronic infrastructure that will support consumption. I look forward to leading the Board of Directors of Yum China in its new and exciting chapter as an independent company.”

“Through this collaboration, we aim to help Yum China provide world-class mobile payment services for tens of millions of customers across its brands. These services include hassle-free Alipay for customers to help shorten queues at the cashier as well as membership solutions for Yum China designed to help manage their customer relations and promotions,” said Eric Jing, President of Ant Financial Services Group. “Leveraging our Big Data capabilities, KFC and Pizza Hut witnessed promising marketing results through their promotion on multiple Ant Financial platforms. We look forward to further collaborating with Yum China in the future.”

“Primavera and Ant Financial both have deep insights into the rapid urbanization and digital transformation which is driving the evolution of China’s economy, and we are excited about their investment into Yum China,” said Micky Pant, Chief Executive Officer of Yum China. “The investment is a clear endorsement of our business strategy and growth potential, and their diverse experience and relationships will be extremely beneficial. Dr. Hu’s extensive market insights and experience scaling businesses in China will be invaluable as we move to expand the footprint of our brands. In addition, Yum China is already the leading restaurant company for cashless payment systems in China, and we expect Ant Financial can provide further unique insights to help us better connect with consumers through mobile technology.”

“The investments from Primavera and Ant Financial in Yum China mark another important milestone in our plans to separate the China business and create a solid foundation for Yum China as it prepares to become an independent restaurant powerhouse,” said Greg Creed, Chief Executive Officer of Yum! Brands. “We look forward to partnering with Primavera and Ant Financial to drive long-term growth at Yum China and welcome Dr. Hu as Non-Executive Chairman of Yum China. I’m pleased that the spinoff remains on track for completion on October 31 and look forward to sharing additional details on the transformative initiatives we are undertaking as we become a more heavily franchised company at our New York investor conference on Tuesday, October 11.”

Primavera has an established track record of supporting successful, high-growth companies in China whose business models benefit from rising consumption and the adoption of urban lifestyles. Its investments include Alibaba Group Holding Ltd. (NYSE: BABA) and Ant Financial, among many others. Ant Financial is an online and mobile financial services firm and digital payments network provider in China.

The closing of the investments are subject to completion of the spinoff and other customary closing conditions.

Goldman, Sachs & Co. is serving as financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Yum! Brands and Yum China. PJT Partners is serving as an independent financial advisor to Yum! Brands’ Board of Directors. Simpson Thacher & Bartlett LLP and Fangda Partners are serving as legal advisors to Primavera and Ant Financial.

About Yum China Holdings
Yum China Holdings will become a licensee of Yum! Brands in Mainland China. It will have exclusive rights to KFC, China’s leading quick-service restaurant concept, Pizza Hut, the leading casual dining brand, and Taco Bell, which is expanding globally but is not yet in China.

The new company will be well positioned for growth thanks to its strong financial position, established brand identity, extensive and expanding footprint and operational expertise. It will have a strong capital position, no debt and significant sales and profit potential from its existing restaurants. KFC and Pizza Hut have more than 7,200 restaurants in over 1,000 cities in China and generated over $8 billion in system sales and approximately $1 billion in EBITDA in 2015. The growth of consumption in China is being fueled by a new generation of younger consumers who are digitally sophisticated and brand driven. The additional growth of the urban population in China is expected to create the world’s largest market for restaurant brands, with Yum China as the clear leader.

About Yum! Brands
Yum! Brands, Inc., based in Louisville, Kentucky, has nearly 43,000 restaurants in almost 140 countries and territories. Yum! is ranked #218 on the Fortune 500 List with revenues of over $13 billion in 2015 and is one of the Aon Hewitt Top Companies for Leaders in North America. The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development.

Certain statements in this communication contain “forward-looking statements.”  Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts.  These statements often include words such as “may,” “will,” “estimate,” “intend,” “seek,” “expect,” “project,” “anticipate,” “believe,” “plan,” “could,” “target,” “predict,” “likely,” “should,” “forecast,” “outlook,” “model,” “ongoing” or other similar terminology.  Forward-looking statements are based on our current expectations, estimates, assumptions or projections concerning future results or events, including, without limitation, the planned Separation of the Yum and Yum China businesses, the timing of any such Separation, the Investment, the closing of the Investment, or the future earnings and performance as well as capital structure of Yum or any of its businesses, including the Yum and Yum China businesses on a standalone basis if the Separation is completed.  Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements.  We cannot assure you that any of our expectations, estimates or projections will be achieved.  Factors that could cause actual results and events to differ materially from our expectations and forward-looking statements are included in reports filed with the SEC by Yum from time to time, including those discussed under the heading “Risk Factors” in our most recently filed reports on Form 10-K and 10-Q.  You should not place undue reliance on forward-looking statements, which speak only as of the date hereof.  We are not undertaking to update any of these statements.

RELEASE NOTICE

The releases contained on this page may contain dated information. Readers are cautioned that the releases on this page are maintained here solely for the purposes of providing historical background about Yum! Brands, its business and product offerings. As the releases may contain dated information, they should not be relied upon as providing accurate or current information. Yum! Brands disclaims any intention or obligation to update or revise any of the information contained in any of the releases on this page, whether as a result of new information, future events or otherwise.

Media Inquiries: please call 502-874-8200

Source: Yum! Brands, Inc.

Yum! Brands announces the appointment of Keith Siegner as VP, Investor Relations and Corporate Strategy

Louisville, KY, 2016-Jun-22 — /EPR Retail News/ — Yum! Brands, Inc. (NYSE: YUM) today announced that Keith Siegner, 41, will join the Company as Vice President, Investor Relations and Corporate Strategy, reporting to President and Chief Financial Officer, David Gibbs, effective July 11, 2016.  In this role, Siegner will assume responsibility for the Company’s relationships with the analyst and investor community.  He will also play a key role in shaping YUM’s long-term growth strategies as the Company moves toward the separation of its China business by the end of October.

“Keith is an excellent addition to Yum! Brands.  He brings to this important position nearly 20 years of financial expertise and a deep understanding of the restaurant industry and our Company,” said Gibbs.  “Keith’s insight into franchisee economics and bench marking to uncover areas for improvement, coupled with his knowledge of Wall Street, will enable him to make a meaningful impact on our business and our interactions with the investment community.  This is an exciting time at YUM as we separate into two powerful, independent companies – Yum! Brands and Yum! China – with unique investment profiles, capital structures, and compelling growth potential.  We are thrilled to have someone with Keith’s experience and knowledge join our Company,” Gibbs added. 

Siegner joins YUM from UBS Securities, LLC, where he served as an Executive Director in securities research, analyzing and publishing investment advice for restaurant companies with a combined market capitalization of $300 billion, including YUM.  He previously spent over 12 years at Credit Suisse Securities USA, LLC, on teams covering the environmental services and specialty chemicals sectors before assuming lead coverage of the restaurant sector in 2007.  Earlier in his career, Siegner worked in the international tax consulting services practice of Arthur Andersen LLP.  He received both bachelor’s and master’s accounting degrees from Wake Forest University.

“I am thrilled to be joining the world-class YUM team as the Company moves toward its next chapter.  Greg Creed, David Gibbs and the team have a clear vision to transform YUM for the future by capitalizing on the extraordinary strength and growth potential of the KFC, Pizza Hut and Taco Bell brands.  After many years following YUM, I cannot wait to play a role in driving its long-term growth and success,” said Siegner.

Yum! Brands, Inc., based in Louisville, Kentucky, has nearly 43,000 restaurants in almost 140 countries and territories.  Yum! is ranked #218 on the Fortune 500 List with revenues of over $13 billion in 2015 and is one of the Aon Hewitt Top Companies for Leaders in North America.  The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories.  Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development.

This announcement may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “likely,” “will,” “should,” “forecast,” “outlook” or similar terminology.

These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct.

Forward-looking statements reflect our current expectations, estimates or projections concerning future results or events, including, without limitation, statements regarding the intended capital return to shareholders as well as the related borrowing required to fund such capital return, the planned separation of the Yum! Brands and Yum! China businesses, the timing of any such separation, the future earnings and performance as well as capital structure of Yum! Brands, Inc. or any of its businesses, including the Yum! Brands and Yum! China businesses on a standalone basis if the separation is completed.

Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause our actual results to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or projections will be achieved.

The forward-looking statements included in this announcement are only made as of the date of this announcement and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances. Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including, without limitation: whether we are able to return capital to shareholders at the times and in the amounts currently anticipated, if at all, as well as the corresponding costs of borrowing to fund such capital return as well as other costs; whether the separation of the Yum! Brands and Yum! China businesses is completed, as expected or at all, and the timing of any such separation; whether the operational and strategic benefits of the separation can be achieved; whether the costs and expenses of the separation can be controlled within expectations, including potential tax costs; as well as other risks.

In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions “Risk Factors” and “Forward-Looking Statements” in our Annual Report or Form 10-K) for additional detail about factors that could affect our financial and other results.

RELEASE NOTICE

The releases contained on this page may contain dated information. Readers are cautioned that the releases on this page are maintained here solely for the purposes of providing historical background about Yum! Brands, its business and product offerings. As the releases may contain dated information, they should not be relied upon as providing accurate or current information. Yum! Brands disclaims any intention or obligation to update or revise any of the information contained in any of the releases on this page, whether as a result of new information, future events or otherwise.

Media Inquiries

please call 502-874-8200

Source: Yum

Taco Bell Corp. warns of fake promotion

IRVINE, Calif., 2016-Jan-28 — /EPR Retail News/ — Taco Bell Corp. has recently been made aware of a promotion being shared via social media that falsely claims customers have a chance to sign up for a “Taco Bell Lifetime Pass.” This is not a promotion sponsored by Taco Bell Corp. or any other YUM! Brands affiliate. We strongly suggest not clicking on the link, as it’s been reported that it may contain malware or other harmful technology. Any and all official promotions are featured on our website, app and verified social media channels, and we encourage the public to be very careful about sharing personal information with unverified sources.

ABOUT TACO BELL® CORPORATION
Taco Bell Corp., a subsidiary of Yum! Brands, Inc., (NYSE: YUM), is the nation’s leading Mexican-inspired quick service restaurant. Taco Bell serves made to order and customizable tacos, burritos, and specialties such as the exclusive Doritos® Locos Tacos, gourmet-inspired Cantina Power® Menu, lower calorie Fresco options and is the first QSR restaurant to offer American Vegetarian Association (AVA)-certified menu items. Taco Bell Breakfast offers portable, classic items such as the A.M. Crunchwrap, Biscuit Taco and signature breakfast burritos. The company encourages customers to “Live Más,” both through its food and in ways such as its Feed The Beat® music program and its nonprofit organization, the Taco Bell® Foundation™. Taco Bell and its more than 350 franchise organizations have nearly 6,000 restaurants across the United States that proudly serve more than 40 million customers every week.

Like: Facebook.com/tacobell
Follow: @TacoBell (Twitter) and tacobell (Instagram)
Subscribe: YouTube.com/tacobell

MEDIA RELATIONS
Public relations inquiries please call 949-863-3915 or e-mail at media@tacobell.com

Yum! Brands raised over 18,000 pounds of food for the Dare to Care Food Bank in its hometown, Louisville, KY

Louisville, KY, 2015-11-9 — /EPR Retail News/ — Last month, Yum! Brands reached its goal and raised over 18,000 pounds of food for the Dare to Care Food Bank in the Company’s hometown, Louisville, KY. This would not have been possible without a huge response from the community and the Company’s partners. We are extremely proud of our associates who shared their Huge Hearts by volunteering nearly 350 hours in honor of our company’s anniversary. Thank you to all who donated, volunteered and supported this wonderful celebration of compassion for our hometown community.

SOURCE: Yum! Brands RSC

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Yum! Brands raised over 18,000 pounds of food for the Dare to Care Food Bank in its hometown, Louisville, KY

Yum! Brands raised over 18,000 pounds of food for the Dare to Care Food Bank in its hometown, Louisville, KY

Yum! Brands celebrates its 18th anniversary on October 9th with a Red vs Blue Hunger “Drive-Thru”

Louisville, KY, 2015-9-23 — /EPR Retail News/ — In October 1997, PepsiCo spun off its three restaurant brands – KFC, Pizza Hut and Taco Bell – to form a new company based out of Louisville, KY. 18 years later, Yum! Brands is one of the world’s largest restaurant companies with more than 41,000 restaurants in over 125 countries around the globe. We are a company with a Huge Heart and are proud to support the Louisville, KY community in the areas of hunger relief, arts and culture, human and social services.

This year, we are celebrating our 18th anniversary on Friday, October 9th from 5:00 AM – 5:30 PM EST with a Redvs Blue Hunger “Drive-Thru” benefitting Dare to Care Food Bank. Bring at least 18 canned goods, in celebration of our 18th anniversary, and you will be entered into a drawing for either UK or UL basketball tickets. We will also be hosting Kentucky Sports Radio and the Afternoon Underdogs live on campus and will draw for the tickets on-air at Noon and 5:30 PM EST, respectively.

Former UK and UL athletes will be on-hand to help us greet the community and sort canned goods. The Hi-Five Donut truck will also be onsite serving up complimentary donuts between 10:00 AM – Noon. Join us Friday, October 9th to celebrate Yum! Brands’ 18th anniversary by helping us reach our goal of 18,000 cans for Dare to Care Food Bank.

What: Red vs Blue Hunger “Drive-Thru” benefitting Dare to Care Food Bank
Where: Yum! Brands, 1441 Gardiner Lane Louisville, KY 40213
When: Friday, October 9th 5:00 AM – 5:30 PM
GOAL: 18,000 cans (18 cans = Eligible for UK & UL ticket drawing)

SOURCE: Yum! Brands RSC

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Yum! Brands celebrates its 18th anniversary on October 9th with a Red vs Blue Hunger “Drive-Thru”

Yum! Brands celebrates its 18th anniversary on October 9th with a Red vs Blue Hunger “Drive-Thru”

Yum! Brands, Inc. announces the appointment of Micky Pant as Chief Executive Officer of Yum! Restaurants China

Joey Wat Named CEO of KFC China; Peter Kao Named CEO of Pizza Hut China

Louisville, KY, 2015-8-21— /EPR Retail News/ — Yum! Brands, Inc. (NYSE:YUM) today announced that long–time YUM veteran, Micky Pant, 60, has been appointed Chief Executive Officer of Yum! Restaurants China, succeeding Sam Su, 63, who announced his plans to retire as Chairman and CEO of the China Division. Su will serve as an Executive Advisor through February 2016 and also remain on the Yum! Brands, Inc. Board of Directors to ensure a smooth and seamless transition. The Company also announced that Joey Wat, 44, President of KFC China, and Peter Kao, 58, Senior Vice President and Brand General Manager of Pizza Hut China, have each been promoted to the position of Chief Executive Officer of KFC and Pizza Hut, respectively, reporting to Pant.

Greg Creed, Chief Executive Officer, Yum! Brands, Inc. said: “Sam Su is a restaurant industry pioneer in China, having established KFC and Pizza Hut as global powerhouses in the world’s fastest growing economy. While we respect and support his decision to retire after a long and successful career with YUM, we are grateful he has built a strong leadership team to carry on and leverage the unprecedented growth opportunity that China presents. I’m especially pleased this leadership transition comes at a time that same-store sales have turned significantly positive, demonstrating continued recovery in the business. We thank Sam for his many significant contributions to YUM, and for ensuring a seamless transition of management to Micky Pant, who I am extraordinarily pleased will become Chief Executive Officer of Yum! Restaurants China. Micky has been one of our most effective and visionary leaders at YUM for the past decade. He is one of the finest brand builders in the business with an unparalleled ability to understand consumer insights and to pursue strategies that build trust and loyalty. At the same time, he is a culture champion and world-class business executive, who knows how to run and grow profitable businesses and attract world-class talent. His strong leadership skills are evident in the tremendous success he has delivered at Yum! Restaurants International (YRI) as President of KFC and Pizza Hut, and then as CEO of KFC globally. Micky is the perfect person to next lead the China Division, given his vast knowledge of KFC and Pizza Hut best practices from around the globe. He will be supported by two tremendous leaders, Joey Wat, President of KFC and Peter Kao, SVP and Brand GM of Pizza Hut, who are promoted to Chief Executive Officer of their respective brands, reporting to Micky. Angela Loh, who has served as Chief Concept Officer, and Mark Chu, who has served as President, Chief Operating Officer, will serve as Senior Advisors to Micky, continuing to share their extensive years of expertise. We believe this seasoned executive team is well-positioned to ensure a seamless management transition and continue our growth trajectory in China for many years to come.

“As Micky becomes the CEO of the China business, I’m pleased that Roger Eaton, 55, will become Chief Executive Officer of the KFC Division outside of China and India, reporting to me. As the YUM Chief Operations Officer, Roger strengthened our operations capability, food quality and safety, and sustainability. He is a restaurant industry veteran who definitely has KFC shortening in his veins, having held many senior management roles with the brand in the U.S. and internationally. Roger is a tremendous leader and I’m confident he and his team will take the KFC brand to new heights globally, building on Micky’s success.”

Yum! Brands, Inc., based in Louisville, Kentucky, has over 41,000 restaurants in more than 125 countries and territories. Yum! is ranked #228 on the Fortune 500 List with revenues of over $13 billion in 2014 and is one of the Aon Hewitt Top Companies for Leaders in North America. The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Outside the United States, the Yum! Brands system opens over five new restaurants per day on average, making it a leader in international retail development.

This announcement may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. Our forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ materially from those projected. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions “Risk Factors” and “Forward-Looking Statements” in our Annual Report on Form 10-K) for additional detail about factors that could affect our financial and other results. Forward-looking statements are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. We are not undertaking to update any of these statements.

SOURCE: Yum! Brands RSC