Benzinga | Sep 22, 2021 12:59PM EDT

Yum! Brands Names Sabir Sami To Succeed Tony Lowings As KFC CEO

* Yum! Brands, Inc. (NYSE:YUM) has promoted Sabir Sami to KFC Division Chief Executive Officer, effective January 1, 2022.

* Sami will report to Yum! Brands CEO David Gibbs.

* Sami, who currently serves as KFC Division COO and Managing Director of KFC Asia, will succeed Tony Lowings, who is stepping down at the end of 2021 in advance of his retirement in early 2022.

* Sami, a 12-year veteran of the company, will assume global responsibility for driving KFC's brand strategy and performance.

* The company also promoted Dyke Shipp to KFC Division President, reporting to Sami, effective January 1, 2022.

* Price Action: YUM shares are trading higher by 1.00% at $126.1 on the last check Wednesday.