Yum Brands CEO David Gibbs announced Monday that he plans to retire from the company in the first quarter of 2026.
Gibbs, who earned an MBA from the Fuqua School of Business at Duke University, is a 36-year veteran of Louisville, Kentucky-based Yum Brands, the world’s largest restaurant company. Yum owns the Taco Bell, Pizza Hut and Habit Burger & Grill brands and has 61,000 restaurants in more than 155 countries.
The board has established a succession planning committee to appoint the next CEO, Yum Brands said, adding Gibbs would continue to lead the company during the search process until his retirement in the first quarter of 2026.
Gibbs became Yum Brands’ CEO in January 2020, then led the enterprise through the pandemic and turbulent years that followed. Under his leadership, Yum Brands expanded its store count to roughly 61,000 from around 50,000, while annual sales at the parent company of Pizza Hut and Taco Bell surged about 25% to $66 billion.
Yum Brands, whose shares have risen about 56% since Gibbs took over as CEO, beat quarterly estimates for comparable sales in its latest earnings report as value offerings from Taco Bell attracted budget-conscious U.S. consumers to the Tex-Mex chain.
Gibbs also updated technology in stores. Earlier this month, Yum signed an industry-first deal with the artificial intelligence and computing company Nvidia, which will work with Yum on automated ordering at drive-thrus and call centers, as well as computer-enhanced operation plans in restaurants.
Yum’s board of directors commended Gibbs, saying he has had a “transformative impact” on the company.
Before becoming CEO, Gibbs led the Pizza Hut division from 2015 to 2016. He later served as the company’s chief financial officer and chief operating officer.
