Yum Brands on Thursday added activist investor Keith Meister to its board of directors and lowered its outlook for earnings and China sales this year.
While announcing it is nearing the end of a strategic review, the KFC and Pizza Hut operator said it would see flat to low single-digit profit growth this year. It previously forecast a low single-digit earnings increase.
The outlook reflects foreign exchange rates, which Yum expects will take 1 to 2 percent from full-year earnings. It also tempered expectations for its key China market, projecting same-store sales to fall from last year.