LOUISVILLE, Ky.–(BUSINESS WIRE)–Yum! Brands, Inc. (NYSE: YUM) today announced that Chris Turner, 44, will join the Company as Chief Financial Officer, reporting to Chief Executive Officer Greg Creed, effective August 8, 2019. In this role, Turner will assume global responsibility for finance, corporate strategy, supply chain and information technology.
Turner joins Yum! Brands from PepsiCo, where he most recently served as Senior Vice President and General Manager leading PepsiCo’s retail and ecommerce businesses with Walmart in the U.S. and more than 25 countries and across PepsiCo’s brands in the beverage, snack and nutrition categories. Today’s announcement concludes the previously announced search for Yum! Brands’ top financial post, which is currently held by David Gibbs, the Company’s President, Chief Operating Officer and Chief Financial Officer.
“On behalf of our leadership team and the Board of Directors, I am pleased to welcome Chris Turner to Yum! Brands as our new Chief Financial Officer. From his time at PepsiCo to his years at McKinsey & Company, Chris brings nearly 20 years of strategy, finance, M&A and operations leadership to Yum! Brands,” said Creed. “We are confident that Chris’ commercial experience with iconic consumer-oriented companies, particularly across the quick-service restaurant and retail sectors, will prove instrumental as we drive global growth, leveraging our unprecedented scale and maximizing value for our customers, franchisees, employees and shareholders.”
“Chris’ deep experience in the consumer sector, strong financial acumen and track record of growth leadership make him perfect for the CFO role at Yum! Brands. He has extensive experience delivering on aggressive performance targets and helping industry leaders navigate complex operating environments, M&A, disruptive innovation and category transformation, which will be invaluable to our company,” said Gibbs. “Chris will be a strategic partner as we leverage our scale to drive global same-store sales and net-new unit growth and improve franchise unit economics.”
Prior to leading PepsiCo’s Walmart business, Turner served as Senior Vice President of Transformation for PepsiCo’s Frito-Lay North America business, where he led the optimization of Frito-Lay’s world-class direct-store delivery capability as part of a broader transformation of the end-to-end value chain. Previously, he led the long-term strategic planning processes related to growth acceleration, category expansion and M&A as Senior Vice President of Strategy for Frito-Lay.
Chris previously spent more than 13 years at McKinsey & Company, one of the world’s largest strategic management consulting firms, where he served as a Partner in the firm’s Dallas office. During his time at the firm, he led the Service Operations practice in North America, the Restaurant Service Line and the Retail Operations team – over time serving clients in the retail, restaurant, consumer packaged goods, airline, high-tech and media industries. He holds an MBA from Stanford University and a bachelor’s degree in industrial engineering from the University of Arkansas.
“It’s a privilege to join the world’s largest restaurant company, and I look forward to partnering with Yum! Brands’ global leadership team to drive growth and profitability for the company’s iconic KFC, Pizza Hut and Taco Bell brands, franchisees and shareholders,” said Turner. “Yum! Brands’ laser-focused business strategy, financial discipline and emphasis on development, innovation and company culture are true differentiators, and I’m thrilled to be part of the company’s future success.”
About Yum! Brands
Yum! Brands, Inc., based in Louisville, Kentucky, has over 48,000 restaurants in more than 145 countries and territories primarily operating the company’s restaurant brands – KFC, Pizza Hut and Taco Bell – global leaders of the chicken, pizza and Mexican-style food. Worldwide, the Yum! Brands system opens over eight new restaurants per day on average, making it a leader in global retail development. In 2018, Yum! Brands was named to the Dow Jones Sustainability North America Index and ranked among the top 100 Best Corporate Citizens by Corporate Responsibility Magazine. In 2019, Yum! Brands was named to the Bloomberg Gender-Equality Index for the second consecutive year.
June 21, 2019 09:27 ET
LOUISVILLE, Ky., June 21, 2019 (GLOBE NEWSWIRE) — Texas Roadhouse, Inc. (Nasdaq: TXRH) announced today that its President, Scott Colosi, has retired effective Thursday, June 20, 2019.
Colosi was hired in 2002 as Chief Financial Officer and was later promoted to President in 2011. During Colosi’s tenure, Texas Roadhouse was named one of the nation’s most Trustworthy Companies by Forbes and recently was named the Brand of the Year by the Harris Poll.
Kent Taylor, Chief Executive Officer of Texas Roadhouse, commented, “Scott has provided tremendous value to Texas Roadhouse over the past 17 years. He was instrumental in taking us public in 2004 and has contributed significantly to the growth of our brands. We wish Scott the best of luck as he embarks on his retirement.”
Along with his current roles, Taylor, who founded the company in 1993, will assume the role of President.
About Texas Roadhouse
Based in Louisville, Kentucky, Texas Roadhouse opened its doors in 1993 and has more than 590 locations in 49 states and ten foreign countries. The family-friendly restaurant is famous for hand-cut steaks, made-from-scratch sides, fresh-baked bread, and a lively atmosphere. Texas Roadhouse was named one of America’s Best Large Employers by Forbes in 2018. For more information, visit www.texasroadhouse.com.
DUBLIN, OH: Wendy’s has promoted Carl Loredo to U.S. CMO.
Reporting to Wendy’s U.S. president and chief commercial officer Kurt Kane, Loredo is responsible for all North America marketing efforts for the brand. Kane has been in his current role since May, previously serving as Wendy’s EVP and chief concept and marketing officer.
Loredo’s main focus in the role is differentiating Wendy’s through its brand platform We Got You, according to a release.
Loredo has worked at Wendy’s since January 2016. He joined the company as VP of brand marketing, where he was responsible for brand strategy and product development. In 2017, he took over the brand’s creative development and advertising, media buying and social programming responsibilities.
Before joining Wendy’s, Loredo was a VP at The Marketing Arm in Dallas, Texas, where he worked with clients such as Bud Light, Dannon Yogurt, Lay’s, L’Oréal and Ruffles. He was also the multicultural agency practice lead with responsibility for positioning, opportunity assessment and new business.
Earlier in his career, Loredo was Craftmade International’s CMO and he held numerous marketing roles at PepsiCo.
Ketchum scored its biggest Cannes Lion trophy of the year on Wednesday for its work on the Keeping Fortnite Fresh campaign for Wendy’s, winning a PR credit for the Grand Prix in the Social & Influencer Lions.
Ketchum New York also won a Silver PR credit for the campaign, and its work for Wendy’s on the #NationalRoastDay promotion won it a Bronze in the category.