Yum! Brands (YUM) has appointed David Gibbs to CEO of the company, effective Jan. 1, 2020. Gibbs, who will also serve on the company’s board of directors, starting in November, succeeds Greg Creed, who will be retiring after 25 years of service.

Gibbs, who was previously Yum! Brands president and COO, overseeing the divisions of KFC, Pizza Hut, and Taco Bell, will have responsibility for the company’s “strategies, structure, people development, and culture.” He will also lead Yum! Brands’ global growth, as well as sales and profitability worldwide.

Gibbs joined Yum! Brands in 1989, where he held leadership positions in all three of the company’s brands, including global strategy, finance, general management, operations, and real estate. He was promoted to his current position of president and CEO earlier this year.

Reporting to Gibbs will be Chris Turner, chief financial officer; Tracy Skeans, chief transformation and people officer; Scott Catlett, general counsel and corporate secretary; and Ken Muench, collider lab chief strategy officer and co-founder. Additionally, Tony Lowings, KFC Division; Mark King, Taco Bell Division; and Artie Starrs, Pizza Hut Division will report to Gibbs.

“I’ve had the privilege of partnering with our franchisees to grow the three iconic brands within the Yum! Brands portfolio for over 30 years and am honored to follow in Greg’s footsteps,” Gibbs said. “It's thanks to Greg’s terrific leadership and innovative brand building during some of the most pivotal moments in our history that Yum! Brands has emerged as a vibrant and industry-leading growth company.

“I’m grateful that Greg and I have had the good fortune to build on the legacy of our co-founder David Novak—a strong foundation of three iconic brands and the positive recognition culture he established after our company’s spinoff from PepsiCo in 1997,” he added.

Creed, who will be leaving at the end of the year, has been CEO at Yum! Brands since January 2015. During his turn at the helm, he was instrumental in the 2016 spinoff of Yum China. Creed will also serve as a part-time advisor in 2020 and remain on the Yum! Brands board.

Yum! Brands has over 48,000 restaurants in more than 145 countries and territories under the KFC, Pizza Hut, and Taco Bell brands.

Taco Bell A Yum! Brands Inc. Taco Bell is shown in Encinitas, California,U.S., October 3, 2016. Photo: Mike Blake/REUTERS