Industry News | March 14, 2008
Yum! Brands Appoints Sam Su to Board of Directors
“Sam Su is the pre-eminent pioneer of a booming restaurant category in the world’s fastest growing economy. He is doing an outstanding job building leading brands in China in every significant restaurant category, which is our number one growth strategy. His long-term commitment to leading our China business has and will continue to drive breakthrough results. I am very pleased Sam is joining our Board of Directors as Vice Chairman, given his overall knowledge of the business and the unique perspective he brings from this rapidly expanding and highly profitable market,” said David C. Novak, Yum! Brands chairman and CEO
The China Division operates across 450 cities in Mainland China, with 2,140 KFC restaurants, 351 Pizza Huts, and 53 Pizza Hut Home Service units. It also has created and is testing East Dawning, a quick-service restaurant concept serving Chinese food.
In China, YUM! outpaces its nearest competitor, McDonald’s, by more than 1,000 restaurants in China and is outpacing their development by a roughly three-to-one pace. In 2007, YUM!'s China Division added a record 471 new-restaurant openings and delivered 30 percent operating profit growth.
Recent Chinese government studies indicate the middle class in Mainland China is over 250 million people, with an economy growing in the low double-digits, creating significant long-term demand for quick-service brands and rapid new-unit development. YUM!'s China Division also includes KFC in Taiwan and KFC and Pizza Hut in Thailand.
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