Yum Brands: Micky Pant to lead spun-off Yum China after split

September 29, 2016 5:15 PM EDT

Logos of KFC, owned by Yum Brands Inc, are seen on its delivery bicycles in front of its restaurant in Beijing February 25, 2013. REUTERS/Kim Kyung-Hoon/File Photo


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(Reuters) - (Brief corrects to clarify that Micky Pant is expected to take on CEO role of Yum China after spin-off. The new role will replace his current position as head of Yum's China unit, from which he is expected to resign.)

Yum Brands (NYSE: YUM):

* In connection with spin-off, Muktesh (Micky) Pant willresign as CEO of Yum's current China division, conditioned onthe completion of the spin-off * Pant is expected then to become CEO of the newly-formedYum China following the spin-off expected later this year * In connection with the spin-off, Jonathan Linen willdepart from the current board and audit committee and willbecome a member of the new Yum China board * Linen's resignation from board and appointment to YumChina's board is expected to be effective as of October 12, 2016

Source text - http://bit.ly/2duFq76

Further company coverage: [YUM.N]



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