LOUISVILLE, KY. — Patrick Grismer, chief financial officer of Yum! Brands, Inc., plans to retire effective Feb. 19, 2016. Mr. Grismer will continue as c.f.o. until that time and will help finalize the company’s 2015 Form 10-K filing with the Securities and Exchange Commission. Yum! Brands said it will conduct a search of internal and external candidates to identify a successor.
“Pat has added tremendous value as c.f.o. of our company and has been an excellent partner to me,” said Greg Creed, chief executive officer. “I respect his personal decision to move to be geographically closer to family members, and I wish him all the best. We have a strong and seasoned team of financial executives who have the expertise and experience needed to ensure a seamless transition and to execute a smooth separation of our China business.”
Mr. Grismer said it was “a difficult personal decision” to retire, citing what he sees as “an exciting time for the company as it embarks on its strategic transformation.”
“I’m confident that both Yum! and Yum! China will capitalize on the excellent growth opportunities ahead,” Mr. Grismer said.
Mr. Grismer has been c.f.o. of Yum! Brands since 2012. Earlier he held a series of domestic and international finance positions, including c.f.o. at Yum! Restaurants International, corporate vice-president of strategy and investor relations, c.f.o. of Pizza Hut (U.K.), vice-president of planning at Yum! Restaurants International, and senior director of finance at Taco Bell. Prior to joining Yum! Brands, he spent 10 years at The Walt Disney Co. in a series of finance executive positions and was also a senior consultant at Price Waterhouse.He received a bachelor’s of science degree in business administration from the University of Southern California, a master’s degree in finance and marketing from Northwestern University’s Kellogg Graduate School of Management. and CPA certification in the State of California.