Yum Brands names COO David Gibbs new CEO

Yum Brands Inc. on Monday named David Gibbs its new CEO, effective Jan. 1. Gibbs, 55, who currently serves as the company's president and chief operating officer, oversees the global KFC, Pizza Hut, and Taco Bell divisions. Gibbs succeeds Greg Creed, 62, who is retiring. Gibbs was also appointed to Yum's board of directors. Yum shares are flat in extended trading Monday, and up 27% for the year. The S&P 500 Index is up 15% this year.

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