David Gibbs became Chief Executive Officer of Yum! Brands on January 1, 2020, and has served as a Director of the Board since November 2019. He reports to the Company’s Non-Executive Chairman. As Yum! Brands CEO, Gibbs leads the Company’s overarching strategies, structure, people development and culture that will drive global growth and sales and profitability at all Yum! franchise businesses worldwide. Yum! functional leaders and global brand division CEOs report to Gibbs. Since joining the Company in 1989, Gibbs has held a variety of leadership roles in all three of Yum!’s brands, including global strategy, finance, general management, operations and real estate. Previously, Gibbs served as Yum! Brands’ President and Chief Operating Officer, where he had global operating leadership of the KFC, Pizza Hut and Taco Bell divisions, with the respective leaders reporting to him. Prior to this, he was President and Chief Financial Officer from 2016 to 2019 and was the chief architect of Yum! Brands’ financial, refranchising and restaurant development strategy to transform the company into a capital-light, pure-play franchisor. He also played a lead role in the 2016 spinoff of Yum China Holdings, Inc. Gibbs also previously served as CEO of the global Pizza Hut Division, and President and CFO of Yum! Restaurants International, responsible for growing KFC, Pizza Hut and Taco Bell outside the U.S. and China, along with having general management responsibility for several international markets. Gibbs also served as Yum! Chief Strategy Officer during which time he revamped Yum! Brands’ global restaurant operations model, as Pizza Hut U.S. CFO and in various real estate and restaurant development leadership roles in KFC, Pizza Hut and Taco Bell. He holds an MBA from the Fuqua School of Business at Duke University and a BS in Mathematical Science from Johns Hopkins University. Since March 2016, Gibbs has served as an independent director on the board of Sally Beauty Holdings, where he also serves on the Audit Committee.