Yum! Brands announced that Sam Su, has been appointed to the company's board of directors as vice chairman, while also maintaining his position as president of the China division.
"Sam Su is the pre-eminent pioneer of a booming restaurant category in the world's fastest growing economy. He is doing an outstanding job building leading brands in China in every significant restaurant category, which is our number one growth strategy. His long-term commitment to leading our China business has and will continue to drive breakthrough results. I am very pleased Sam is joining our Board of Directors as Vice Chairman, given his overall knowledge of the business and the unique perspective he brings from this rapidly expanding and highly profitable market," said David C. Novak, Yum! Brands chairman and CEO.
The China Division operates across 450 cities in Mainland China, with 2,140 KFC quick service restaurants, 351 Pizza Hut casual dining restaurants, and 53 Pizza Hut Home Service units. It also has created and is testing East Dawning, a quick service restaurant concept serving Chinese food. The company outpaces its nearest competitor, McDonald's, by more than 1,000 restaurants in China, and is outpacing their development by a roughly 3:1 pace.
In 2007, the company's China division added a record 471 new-restaurant openings and delivered 30% operating profit growth. Recent Chinese government studies indicate the middle class in Mainland China is over 250 million people, with an economy growing in the low double-digits, creating significant long-term demand for the Company's brands and rapid new-unit development. The China division also includes KFC in Taiwan and KFC and Pizza Hut in Thailand.