Yum Brands Appoints Brian Cornell as Non-Executive Chairman

Brian Cornell
Leadership change

Yum Brands, Inc. [NYSE:YUM) announced on Monday that its board of directors has appointed Brian C. Cornell to replace Robert D. Walter, 72, as its non-executive chairman. Cornell is the chairman and chief executive officer of Target Corporation [NYSE:TGT].

“We sincerely thank Bob Walter for his strong leadership, invaluable insights and many significant contributions to Yum! Brands, particularly during this exciting and transformative time for our company as we’re becoming more focused, more franchised and more efficient,” said Greg Creed, chief executive officer of Yum Brands, which has over 45,000 affiliated restaurants in its KFC, Pizza Hut and Taco Bell brands.

Prior to joining Target in August 2014, Cornell served as CEO of PepsiCo Americas Foods where he oversaw the company’s global food business. Cornell also served as president and CEO of Sam’s Club. He serves as chairman of the Retail Industry Leaders Association.

“As customer preferences and purchase behaviors evolve, Target and Yum! Brands are already elevating and transforming our respective customer experiences with digital, retail and global consumer insights,” said Yum’s new non-executive chairman. “I look forward to contributing to the next wave of growth for Yum! Brands.”

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