May 1, 2014 / 1:18 PM / 5 years ago

Yum names Greg Creed as next CEO

Taco Bell CEO, Greg Creed, poses for a photo at the Taco Bell Headquarters in Irvine, California on March 8, 2013. REUTERS/Lori Shepler

(Reuters) - Yum Brands Inc (YUM.N) on Thursday said that Greg Creed will become the chief executive of the restaurant operator and join its board of directors on January 1, replacing David Novak, who has been CEO since 1999.

Creed, 56, is a 20-year veteran of Yum and is currently CEO of the Taco Bell chain. Yum also owns the Pizza Hut and KFC chains.

Novak, 61, will take on the role of Executive Chairman on January 1, and is forming the Office of the Chairman, which will include Creed.

Reporting by Phil Wahba in New York

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