YUM! BRANDS INC. APPOINTS GREG CREED AND ELANE B. STOCK TO BOARD

LOUISVILLE, KY, November 20, 2014 – Yum! Brands, Inc. (NYSE: YUM) announced today that Greg Creed, 57, who will become Chief Executive Officer of the Company on January, 1, 2015, was formally appointed as a Director of the Board. Additionally, the Company appointed Elane B. Stock, 50, to its Board of Directors. Stock is the Group President of Kimberly-Clark International, comprising its operations in Asia-Pacific, Latin America, Middle East, Europe and Africa. The appointments are effective immediately.

“I’m very pleased the Board today appointed Greg Creed as a Director of our Company, furthering our seamless leadership transition,” said David Novak, Chairman and CEO, Yum! Brands. “Greg walks the talk of our culture, is a visionary business leader and will make an outstanding Director and CEO of YUM Brands.”

Creed currently serves as Chief Executive Officer of Taco Bell and is a 20-year veteran with the Company. As previously reported, he will become CEO on January 1, 2015, at which time Novak becomes Executive Chairman of the Board.

“Elane Stock also will make an outstanding addition to the Yum! Brands Board of Directors. Elane leads a global business portfolio for one of the world’s leading consumer products companies, with a successful career in packaged goods and strategic consulting. As we continue to build dynamic, vibrant brands through superior marketing, breakthrough innovation and compelling value, Elane’s specific expertise will complement our efforts to distinguish our brands around the world,” said Novak.

Prior to joining Kimberly Clark as Chief Strategy Officer, and later as President, Kimberly-Clark Professional, Stock previously served in management positions at Georgia Pacific, McKinsey & Company and the American Cancer Society.

Yum! Brands, Inc., based in Louisville, Kentucky, has over 40,000 restaurants in more than 125 countries and territories. Yum! is ranked #216 on the Fortune 500 List with revenues of over $13 billion. In 2014 Yum! was named among the top 100 Corporate Citizens by Corporate Responsibility Magazine and 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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