The new CEO of Yum Brands, the parent company of fast food giants like Taco Bell and Pizza Hut, is coming into his position hot! While fresh to his post—he officially will take over for current CEO Greg Creed in January—David Gibbs already has big plans for the foodservice company, including a possible acquisition, according to a report by CNBC.
“We don’t need an acquisition to grow,” Gibbs told analysts this week on an investors call. “Our brands today are strong generally around the world, with plenty of growth opportunities, but we certainly wouldn’t rule out an acquisition.”
In the past couple of years, Yum’s brands have made a series of purchases, including Pizza Hut acquiring QuikOrder (one of the company’s largest acquisitions to date) and Yum buying a 3 percent stake in GrubHub, CNBC noted. In terms of where Gibbs has set his sights next for the company remains to be seen, with the current Chief Operating Officer asserting that he will stay tight lipped until he officially takes over the CEO position in 2020.
Who will join the Yum Brands’ family? Deli Market News will continue to map out the latest movements happening in the specialty, fast food, and foodservice space.
