December 7, 2015 / 9:55 PM / 3 years ago

Yum CFO to leave in February, amid China spinoff

LOS ANGELES (Reuters) - Yum Brands Inc (YUM.N) Chief Financial Officer Patrick Grismer will resign effective Feb. 19, the parent of the KFC, Taco Bell and Pizza Hut restaurant brands said on Monday.

A man walks past a logo of KFC, outside a restaurant in Shanghai, China, July 30, 2015. REUTERS/Aly Song

News of Grismer’s planned departure comes as Yum prepares to spin off its China division, which accounts for roughly 35 percent of global profit.

Grismer will present at the company’s investor conference on Dec. 10, Yum said.

Grismer, 53, has served as CFO of Yum since 2012. Prior to that, he held a number of senior finance and planning positions within the company.

Yum said it would conduct an internal and external search for a successor.

Shares in Yum were unchanged at $76.41 in extended trading.

Reporting by Lisa Baertlein in Los Angeles; Editing by Dan Grebler

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