LOUISVILLE, KY. — Yum! Brands, Inc. has promoted Chris Turner, chief financial and franchise officer, to chief executive officer, succeeding David Gibbs, who is retiring after 37 years with the global fast-food restaurant company.

Plans call for Turner to take the CEO reins on Oct. 1. Louisville-based Yum! Brands said Gibbs, who has been CEO since January 2020, will continue as CEO through Sept. 30 and then shift to an adviser role until the end of 2026 to assist in the leadership transition.

Yum! Brands and its subsidiaries franchise or operate nearly 61,000 restaurants in more than 155 countries and territories under the KFC, Taco Bell, Pizza Hut and Habit Burger & Grill. The company totaled 2024 revenue of $7.55 billion, up 7% year over year.

Turner has been Yum! Brands’ CFO since July 2019 and last year expanded his role to include chief franchise officer, with responsibilities for finance, corporate strategy, supply chain, franchise standards and support. He joined the company after three-and-a-half years at PepsiCo Inc., most recently as senior vice president and general manager of the global Walmart service team. Before that, he was senior vice president of transformation and senior vice president of strategy for PepsiCo’s Frito-Lay North America snack subsidiary. Previously, Turner was a partner at McKinsey & Co. and served as a consultant for Accenture.

“I’m deeply honored to step into the role of CEO at Yum! Brands and incredibly grateful for the opportunity to lead this global company with such iconic brands,” Turner said. “I want to sincerely thank David Gibbs for his exceptional leadership and partnership. I’m excited to build on all that we’ve accomplished together alongside our talented teams and in partnership with our franchisees around the world, as we innovate, grow our brands and continue delivering exceptional experiences for our consumers.”

In March, Gibbs had informed Yum! Brands that he planned to retire within the next year. Besides CEO, his executive posts at the company have included president and chief operating officer, president and CFO, global CEO of Pizza Hut, president and CFO of Yum! Restaurants International, Yum! chief strategy officer and US CFO for Pizza Hut. He has been with the company since 1989.

“It has been the privilege of a lifetime to lead Yum! Brands and work with such passionate, talented people across our global system throughout my almost 37 years with the company,” Gibbs said. “I’m incredibly proud of what we’ve accomplished together and am confident that the best is yet to come. During my time partnering with Chris, he’s demonstrated deep knowledge of our business, strong values and a clear commitment to our growth. I can’t think of a better person to guide Yum! into its next chapter, and I look forward to supporting a smooth and successful transition.”

Yum! Brands credited Gibbs with driving the company’s digital transformation, tripling the pace of annual net new restaurant unit development, and navigating the company through the COVID-19 pandemic and an “increasingly complex operating environment, making Yum! a top performer in the restaurant industry.” During Gibbs’ tenure, digital sales topped $30 billion in 2024, with more than 50% of sales coming via digital channels.