Julie Felss Masino, Taco Bell’s North America president, and Liz Williams, its international president, will report to King. The brand has posted seven consecutive years of positive same-store sales growth.
Taco Bell’s CEO position has stood vacant since Brian Niccol left for Chipotle in March 2018. “Mark King is the ideal executive to elevate Taco Bell to the next level of global growth,” Gibbs said in a statement. “His unique talent rewriting the rules for brands to win in fiercely competitive markets will be central to Taco Bell’s journey to become a $15 billion brand that transcends the quick-service restaurant and retail categories.” Gibbs was promoted to the role in January.
King left Adidas in 2018. Under his leadership, YUM! said, the company increased its sales 35 percent in 2017, doubling its market share and regaining the No. 2 position in the U.S. From 2003–2014, King was CEO of TaylorMade-Adidas Golf.
“The courage, creativity, culture, and potential of Taco Bell make it the only brand I would become part of at this point in my career,” King said in a statement. “I’m truly excited and honored to join Yum! Brands and to work with Julie, Liz, and the talented team of employees and franchisees who are already making Taco Bell a powerhouse global brand with extraordinary possibilities for the future.”