LOUISVILLE, Ky. --(BUSINESS WIRE)-- Yum! Brands, Inc. (NYSE: YUM) today announced that Sam Su, 58, has been promoted to Chairman and Chief Executive Officer for Yum! Brands China Division and maintains his position as Vice Chairman, Yum! Brands, Board of Directors. Su was previously President of Yum! China Division.
"Sam Su is a world class pioneer achieving breakthrough results for Yum! Brands in China and is absolutely committed to driving long-term success. He has a solid track record of delivering outstanding performance in our China division, which has grown operating profit from $20 million in 1998 to $600 million in 2009. Sam and his team have created sustainable competitive advantages for us through a strategic focus on growth and innovation. That is why Yum! China leads the way across the board, with best-in-class talent, operations, products and assets and is poised for a tremendous and successful future ahead in the world's largest growing economy. Sam is an outstanding partner and I am very pleased he has been promoted to Chairman and Chief Executive Officer of Yum! China Division in recognition of his leadership," said David C. Novak, Yum! Brands Chairman and Chief Executive Officer.
"I am also pleased to announce that Mark Chu is being promoted from Chief Development Officer to President and Chief Operating Officer of Yum! China, reporting to Sam Su. Mark has been instrumental in growing our restaurant base in China to nearly 3,500 restaurants, last year adding a record 509 new units in Mainland China. His continued focus on growth, coupled with our tremendous store level operating capability, a world class infrastructure and the largest real estate and construction teams anywhere in the world, has given Yum! a huge competitive advantage, which he and Sam will only continue to build upon," added Novak.
Chu will have oversight of all the Brand teams for the China Division as well as the Restaurant Excellence and Franchise Development functions, while maintaining his oversight of the Development and Construction teams.
Yum! China Division operates across more than 650 cities in mainland China, with 3,544 restaurants including 2,950 KFC restaurants, 467 Pizza Hut casual dining restaurants and 102 Pizza Hut Home Service units. It also has created and is testing East Dawning, a quick service restaurant concept serving Chinese food. The Company also has purchased interest in Little Sheep, leader in the 'hot pot' restaurant category primarily in China. In 2009, the Company opened a record 509 new units, nearly one KFC every day. The Company outpaces its nearest competitor, McDonald's, by more than 1,000 restaurants in China and is outpacing their development by a roughly 3:1 pace. Recent studies indicate the middle class in mainland China is over 300 million people, creating significant long-term demand for the Company's brands and rapid new unit development. Each of Yum's brands has great momentum in China as the Company continues its goal of at least 20,000 units over the long term in mainland China.
Yum! Brands, Inc., based in Louisville, Ky., is the world's largest restaurant company in terms of system restaurants with more than 37,000 restaurants in more than 110 countries and territories. The company is ranked #216 on the Fortune 500 List, with revenues of nearly $11 billion in 2009. Four of the company's restaurant brands – KFC, Pizza Hut, Long John Silver's and Taco Bell – are the global leaders of the chicken, quick–service seafood, pizza and Mexican–style food categories. A&W Restaurants is the longest running quick–service franchise chain in America. Outside the United States, the Yum! Brands system opened more than four new restaurants each day of the year, making it a leader in international retail development. The Company has consistently been recognized for its reward and recognition culture, diversity leadership, community giving, and consistent shareholder returns. In 2007, the Company launched World Hunger Relief, the world's largest private sector hunger relief effort to raise awareness, volunteerism and funds to benefit the United Nations World Food Programme (WFP) and other hunger relief agencies. To date, this effort has raised nearly $60 million for WFP and other hunger relief agencies and is helping to provide approximately 250 million meals, saving the lives of millions of people in remote corners of the world where hunger is most prevalent.