Yum! Brands has announced it has appointed Peter A. Bassi, 54, as Chairman of Yum! Restaurants International (YRI), the international division of the world’s largest global restaurant company. The Company also announced that Graham Allan, 48, was promoted to President of YRI.
Bassi most recently served as President of YRI, and Allan has been YRI’s Executive Vice President and Chief Operating Officer. The appointments are intended to establish an orderly transition in anticipation of Mr. Bassi’s eventual retirement, planned for February 2005.
“The growth at Yum! Restaurants International the past six years under Pete Bassi’s leadership has been stellar,” said David C. Novak, Yum! Brands Chairman and CEO. “YRI has become a global powerhouse, having opened 1,000 new restaurants a year for the last three years, and doubling its operating profit over the last four years. Pete Bassi has established the strategies, structure and people capability that have proven so successful to our international expansion, and he will build on those to fuel our profitable global growth well into the future.”
Bassi will continue to actively lead YRI, with bottom line accountability for all international business, until he retires in 2005.
“Graham Allan’s promotion will help us establish a seamless transition as he will work closely with Pete Bassi to ensure continuity and measured growth for the long term,” said Novak. “Graham Allan is an outstanding leader, with strong operational, financial and general management skills.”
Allan is a 10+ year veteran with a proven track record in the company’s international business. Prior to his current role, Allan served as Managing Director for YRI in Europe and, before that, as Managing Director of KFC in the UK. Allan is credited with turning each of those businesses into key growth markets for the company.
In addition to Allan, reporting to Bassi are Sam Su, president of YRI’s business in Greater China, and Steve Pepper, Managing Director of YRI in Mexico. Reporting to Allan are the leaders of the staff functions at YRI, and all other international business management units outside of Greater China and Mexico.
The Company also announced that given the significant business in Greater China, Sam Su will report directly to Novak upon Bassi’s retirement, as will Allan. “Under Sam Su’s leadership, YRI’s team in China has built a development machine,” said Novak. YRI will open its 1,000th KFC and 120th Pizza Hut in mainland China this year. The China team also just introduced the all-new Taco Bell Grande concept and is positioned to open a second Taco Bell before year’s end because of its success.
