Yum! Brands (YUM) Names New Board Member

September 26, 2016 12:00 PM EDT

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Yum! Brands, Inc. (NYSE: YUM) announced the appointment of Paget Alves to its Board of Directors, effective November 17, 2016. With Mr. Alves’s appointment, the Yum! Brands Board will consist of 12 directors, 11 of whom will be independent.

“Paget’s extensive executive management and leadership experience, as well as his background in sales, make him a strong addition to the Yum! Brands Board,” said Robert Walter, Non-Executive Chairman of Yum! Brands. “We are thrilled to have Paget join us at this exciting time for the Company, and look forward to benefitting from the insight and expertise he will bring.”

Greg Creed, Chief Executive Officer of Yum! Brands said, “We are excited to appoint a director as qualified and talented as Paget who will bring fresh perspectives to the Board as Yum! Brands begins its next chapter and moves forward following the separation of the China business. I look forward to working with him as we execute on our strategic plans to drive growth across all of our brands and deliver value for our shareholders.”

Mr. Alves, 62, serves on the Boards of Directors of International Game Technology PLC, Ariel Investments LLC and Synchrony Financial. He previously served on the Boards of Directors of GTECH Holdings Corporation and Herman Miller, Inc. He served as Chief Sales Officer of Sprint Corporation, from January 2012 to September 2013, after serving as President of the Business Markets Group since 2009. Prior to that, he held various other positions at Sprint. Before joining Sprint in 2003, he served as President and Chief Executive Officer of PointOne Telecommunications Inc., and President and Chief Operating Officer of Centennial Communications. Mr. Alves earned a Bachelor of Science degree in Industrial and Labor Relations and a Juris Doctor degree from Cornell University.

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