Yum China CFO resigns

He will serve as an advisor to the CEO until February 2025.

Andy Yeung, Yum China’s Chief Financial Officer has resigned, citing personal reasons, effective 30 September.

Yeung will serve as the Senior Advisor to the Company's Chief Executive Officer from 1 October to 28 February 2025.

Adrian Ding, who has been with the company since March 2019 and currently serves as the Company's Chief Investment Officer and General Manager of the Company's Lavazza joint venture, has been appointed as Acting Chief Financial Officer of the Company, effective October 1, 2024.

"On behalf of the Board of Directors and management, I would like to extend our heartfelt gratitude to Andy for all his contributions to the Company. Shortly after joining us in 2019, Andy played a critical role as a core member of the leadership team throughout the pandemic. His efforts were instrumental in enhancing the Company's financial strength, establishing robust cost discipline and supporting our growth strategy. He also successfully led the completion of our listing in Hong Kong. Under his leadership, the finance team further strengthened its capabilities and upgraded systems and processes in key areas. We wish Andy all the best in his future endeavours." said Joey Wat, CEO of Yum China.

Meanwhile, Yum China also announced today the appointment of Mikel A. Durham to the Board of Directors, effective August 12, 2024. In connection with the appointment, the size of the Board of Directors was increased to 12 directors, ten of whom are independent.

Mikel A. Durham served as CEO of American Seafoods Group from January 2017 to February 2022. She also chaired the trade association for Wild Alaska Pollock, the largest global fishery for human consumption. Durham served as the global chief commercial officer of the private equity-backed CSM Bakery Solutions, a global bakery supply manufacturer, from 2014 to 2016.