Yum Brands names Creed as next CEO

The logo for Taco Bell displayed outside a restaurant in Daly City, Calif.
David Paul Morris | Bloomberg | Getty Images

Yum Brands on Thursday said that Greg Creed will become the chief executive of the restaurant operator and join its board of directors on Jan. 1, replacing David Novak, who has been CEO since 1999.

Creed, 56, is a 20-year veteran of Yum and is currently CEO of the Taco Bell chain. Yum also owns the Pizza Hut and KFC chains.

Novak, 61, will take on the role of Executive Chairman on Jan. 1, and is forming the Office of the Chairman, which will include Creed.

By Reuters