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on September 18, 2016

Yum China Holdings board members named

Nine directors planned to serve on board of Yum! Brands’ China company

The expected members of Yum China Holdings’ board of directors have been named.

Seven of the nine new directors announced are independent. They are expected to serve on the Yum China Board of Directors following the completion of Yum China’s spin-off from Yum! Brands, which is expected to occur after the close of business on October 31 – just a little more than one year after Yum! Brands announced its intent to create the spin-off company for its Chinese operations.

Yum! Brands is the parent company of restaurant chains KFC, Taco Bell and Pizza Hut.

Expected board members

As previously announced, Dr. Fred Hu, chairman and founder of Primavera Capital Group, a China-based global investment firm that will make a strategic investment in Yum China, will serve as non-executive chairman of the Yum China Board once the distribution and the Primavera investment are complete. In addition to Dr. Hu, the Board will include:

  • Micky Pant, chief executive officer of Yum China.
  • Peter A. Bassi, former chairman and president of Yum! Restaurants International and current lead director for BJ’s Restaurant and Potbelly Sandwich Works.
  • Christian L. Campbell, owner of Christian L. Campbell Consulting LLC and former senior vice president, general counsel, secretary and chief franchise policy officer of Yum! Brands.
  • Ed Chan Yiu-Cheong, vice chairman of Charoen Pokphand Group Company Limited.
  • Edouard Ettedgui, non-executive chairman of Alliance Française, Hong Kong and non-executive director of Mandarin Oriental International Limited.
  • Louis T. Hsieh, director and senior advisor to the chief executive officer, and former chief financial officer and president of New Oriental Education & Technology Group.
  • Jonathan S. Linen, director for Yum! Brands and Modern Bank N.A., former adviser to the chairman of American Express Company and former vice chairman of American Express Company.
  • Zili Shao, co-chairman of King & Wood Mallesons – China.

Yum China also expects to name one additional independent board member in connection with the spin-off.

“I am honored to lead the Yum China Board alongside such experienced and talented individuals,” said Hu. “My fellow directors bring proven track records of success in the food, service, finance, legal and other industries in China. We all also understand this market well, and I look forward to working collaboratively to build a strong business and create sustained value for Yum China shareholders.”

Pant said, “I am confident that this Board has the right mix of experience and knowledge of our industry and the evolving consumer trends in China to drive future success for Yum China. I am excited to have the opportunity to work with my highly-qualified colleagues on the Board as we execute on our strategic plans to drive growth across our brands.”

Greg Creed, chief executive officer of Yum! Brands, said, “We’re pleased to have announced the composition of the Yum China Board of Directors as we near the completion of the separation. We are confident that these business leaders will offer the market insights and strategic vision required to enable Yum China to reach its full potential.”

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