Louisville, KY, September 18, 2015 – Yum! Brands, Inc. (NYSE: YUM) announced today the appointment of Brian Cornell to its Board of Directors. Cornell is the Chairman and Chief Executive Officer of Target Corporation (NYSE: TGT). The appointment is effective immediately.

“Brian will make an outstanding addition to the Yum! Brands Board of Directors,” said David Novak, Executive Chairman, Yum! Brands. “Brian is a seasoned retail and consumer products veteran. He brings a wealth of knowledge and best practices to YUM leading one of the largest and most innovative retail companies in the world.”

“We are thrilled to welcome Brian to the Yum! Brands Board of Directors,” said Greg Creed, Chief Executive Officer, Yum! Brands. “As we continue to build three iconic global brands that people trust and champion through insight-driven marketing, breakthrough product innovation and digital leadership, Brian’s expertise will complement our efforts to strengthen and grow our brands around the world and deliver strong performance for our shareholders over the long term.”

Cornell, 56, has more than 30 years of experience at leading retail and global consumer product companies. Prior to joining Target in August 2014, Cornell served as CEO of PepsiCo Americas Foods where he oversaw the company’s global food business, the largest of PepsiCo’s four divisions. He was responsible for a portfolio that included Frito-Lay North America, Quaker Foods and all of PepsiCo’s Latin America food and snack businesses. Before joining PepsiCo in 2012, Cornell served as president and CEO of Sam’s Club, a division of Wal-Mart Stores, Inc. Cornell also held the position of CEO at Michaels Stores, Inc., and prior to that, executive vice president and chief marketing officer for Safeway.

Yum! Brands, Inc., based in Louisville, Kentucky, has over 41,000 restaurants in more than 125 countries and territories. Yum! is ranked #228 on the Fortune 500 List with revenues of over $13 billion in 2014 and is one of the Aon Hewitt Top Companies for Leaders in North America. The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Outside the United States, the Yum! Brands system opens over five new restaurants per day on average, making it a leader in international retail development.


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