SHANGHAI, July 17,
2023 /PRNewswire/ -- Yum China Holdings, Inc. (NYSE:
YUMC and HKEX: 9987) today announced the appointment of Mr.
David Hoffmann to the Board
of Directors, effective
immediately. Mr. Hoffmann will serve as a member of the Audit
Committee of the Board. Following the appointment, the Board is
comprised of 10 directors, nine of whom are independent.
"We are honored to have Dave join our Board of Directors," said
Yum China's Independent Chairman Dr.
Fred Hu. "Dave brings to us unique
perspectives through his leadership experience in the global
restaurant industry, strong operational expertise, and deep
knowledge about doing business in China and Asia
Pacific. I am confident he will prove a valuable addition to
our Board."
Joey Wat, CEO of Yum China commented, "Dave's extensive
experience in spearheading operational and business transformations
will be invaluable as we continue to execute our RGM
(Resilience-Growth-Moat) strategy. I look forward to Dave's
insights and contribution to our Board as together we work to
deliver sustainable growth and long-term shareholder
value."
David Hoffmann, age 55, has
served as the chairman and chief executive officer of Mammoth
Holdings, a Dallas-based conveyor
car wash operator since October 2021.
Prior to joining Mammoth Holdings, Mr. Hoffmann held a variety of
top leadership positions in the global quick service restaurant
industry. Mr. Hoffmann served as Director and CEO of Dunkin' Brands
from 2018 to 2020 and as President, Dunkin' U.S. from 2016 to 2018.
Prior to joining Dunkin' Brands, Mr. Hoffmann served as an
executive for McDonald's Corporation for 20 years in increasing
areas of international responsibility, including as President of
High Growth Markets, President of Asia
Pacific, Middle East &
Africa (APMEA), Senior Vice
President and Restaurant Support Officer for APMEA, Vice President
of Strategy, Insights and Development for APMEA, and Executive Vice
President of McDonald's Japan. Mr.
Hoffmann received his master's degree of business administration
(MBA) from the University of Chicago in
1996.
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. We intend all
forward-looking statements to be covered by the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements generally can be identified by the fact
that they do not relate strictly to historical or current facts and
by the use of forward-looking words such as "expect,"
"expectation," "believe," "anticipate," "may," "could," "intend,"
"belief," "plan," "estimate," "target," "predict," "project,"
"likely," "will," "continue," "should," "forecast," "outlook,"
"commit" or similar terminology. These statements are based on
current estimates and assumptions made by us in light of our
experience and perception of historical trends, current conditions
and expected future developments, as well as other factors that we
believe are appropriate and reasonable under the circumstances, but
there can be no assurance that such estimates and assumptions will
prove to be correct. Forward-looking statements are not guarantees
of performance and are inherently subject to known and unknown
risks and uncertainties that are difficult to predict and could
cause our actual results or events to differ materially from those
indicated by those statements. We cannot assure you that any of our
expectations, estimates or assumptions will be achieved. The
forward-looking statements included in this press release are only
made as of the date of this press release, and we disclaim any
obligation to publicly update any forward-looking statement to
reflect subsequent events or circumstances, except as required by
law. Numerous factors could cause our actual results or events to
differ materially from those expressed or implied by
forward-looking statements. In addition, other risks and
uncertainties not presently known to us or that we currently
believe to be immaterial could affect the accuracy of any such
forward-looking statements. All forward-looking statements should
be evaluated with the understanding of their inherent uncertainty.
You should consult our filings with the Securities and Exchange
Commission (including the information set forth under the captions
"Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" in our Annual Report
on Form 10-K and subsequent Quarterly Reports on Form 10-Q) for
additional detail about factors that could affect our financial and
other results.
About Yum China Holdings, Inc.
Yum China is the largest
restaurant company in China with a
mission to make every life taste beautiful. The Company has over
400,000 employees and operates over 13,000 restaurants under six
brands across 1,800 cities in China. KFC and Pizza Hut are the leading
brands in the quick-service and casual dining restaurant spaces in
China, respectively. Taco Bell
offers innovative Mexican-inspired food. Yum China has also partnered with Lavazza to
develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine.
Yum China has a world-class,
digitalized supply chain which includes an extensive network of
logistics centers nationwide and an in-house supply chain
management system. Its strong digital capabilities and loyalty
program enable the Company to reach customers faster and serve them
better. Yum China is a Fortune 500
company with the vision to be the world's most innovative pioneer
in the restaurant industry. For more information, please visit
http://ir.yumchina.com.
Investor Relations Contact:
Tel: +86 21 2407 7556 / +852 2267 5801
IR@YumChina.com
Media Contact:
Tel: +86 21 2407 7510
Media@YumChina.com
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SOURCE Yum China Holdings, Inc.