Yum! Brands CEO-to-Be Greg Creed Will Confront Some Tough Challenges
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Yum! Brands, owner of KFC, Taco Bell, and Pizza Hut, announced on Thursday that current Taco Bell Chief Executive Officer Greg Creed will become CEO of the parent group next January, succeeding David Novak.
Taco Bell became an industry leader under Creed, who introduced day parts such as FourthMeal and breakfast. He understands Yum’s culture, according to Novak, who has served as CEO for 15 years. Meanwhile, a report from Deutsche Bank says “it will be hard to replace the leadership and continuity that Mr. Novak has brought to the company,” but Creed is well respected within the industry and investment community and “exudes a similar energy and passion for the business” as the current CEO.