Yum China (YUMC) Adds New Board Member

November 1, 2016 6:28 AM EDT
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Yum China Holdings, Inc. (NYSE: YUMC) announced the appointment of Ruby Lu to the Board of the Directors, effective immediately. The appointment will increase the size of the Board of Directors to 10 members, 8 of whom are independent.

"I am delighted to welcome Ruby to our Board of Directors," said Yum China Non-executive Chairman Dr. Fred Hu. "She brings a wealth of experience in high growth technology companies in China and will be an asset to our team. I have no doubt that she will provide an invaluable perspective as we look to chart the next phase of our growth in China, particularly as we scale our digital capabilities. I look forward to working with Ruby and the rest of the Board to help Yum China realize its full potential and generate sustainable value for shareholders."

Ruby Lu is an independent venture capitalist investing in technology start-ups in the US and China. Previously, she was the co-founder of DCM China - an early stage venture capital firm. During her over-twelve years' tenure at DCM, she invested in and served as a board member of many leading technology companies including BitAuto Holdings Limited, E-Commerce China Dangdang Inc., and Pactera Technology International Ltd. She also served as an independent director and chairman of the special committee for iDreamSky Technologies Limited before it was taken private. She is currently an independent director and chairman of the special committee for iKang Healthcare Group, Inc. Prior to joining DCM in 2003, Ms. Lu was a vice president in the technology, media and telecommunications investment banking group of Goldman Sachs & Co. in Menlo Park, California.

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