Industry News | October 18, 2004

Yum! COO Leaves for KMart

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Yum! Brands today announced the appointment of David Deno, 47, as Chief Operating Officer, reporting to Chairman and CEO David Novak. Deno replaces Aylwin Lewis, who has resigned to become President and CEO of KMart Department Stores.

As COO, Deno will oversee the company's operations and continue to serve as the company's Chief Financial Officer during a transition year. To this end, the company also promoted Rick Carucci, 47, to Senior Vice President, Finance and Chief Financial Officer-Designate. Carucci will report to Deno during the transition and then to David Novak once he is appointed Chief Financial Officer.

Deno is a 21-year restaurant industry veteran, with proven operating and leadership skills. Prior to serving as CFO, he demonstrated the ability to run great restaurants at Pizza Hut and Yum! Restaurants International as one of the company's top operators.

Like Deno, Carucci has over twenty years of experience with a demonstrated track record in both finance and general management, primarily in the company's largest and fast-growing international business. Most recently, Carucci served as Executive Vice President and Chief Development Officer of Yum! Restaurants International (YRI), where he was responsible for all international franchising and development. Prior to that, Carucci served as Chief Financial Officer for YRI. He also served as CFO of the Asia Pacific Region and held various field finance positions over the years.

Lastly, Steve Davis, President of Long John Silver's and A&W, is assuming Lewis' accountabilities for the company's multibranding strategy and will report directly to Novak. With LJS and A&W the primary multibranding partners, the company believes this structure creates many advantages.

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.