Advertisement

UPDATE 1-Yum China same-store sales beat, CEO to step down

UPDATE 1-Yum China same-store sales beat, CEO to step down
From Reuters - October 5, 2017

(Adds details, shares)

Oct 5 (Reuters) - Yum China Holdings Incs quarterly same-store sales beat analysts estimates as its KFC restaurants served up strong results, and the company said its Chief Executive Micky Pant would step down.

Joey Wat, currently the companys chief operating officer, will take over as CEO, Yum China said.

Pant, who has led the company since its spin off from Yum Brands Inc late last year, will become vice chairman of the board and senior adviser to Yum China.

Shares of the company, which also operates Pizza Hut and Taco Bell chains, rose 3.6 percent to $41.40 after the bell on Thursday.

Advertisement

Continue reading at Reuters »