Novak had retired as CEO of YUM in January 2015, succeeded by Greg Creed, the current CEO. This transition completes Novak’s retirement plan.

Walter, currently the board’s lead director, has served on Yum! Brands' Board since 2006. He is the founder of Cardinal Health, Inc., a company that provides products and services supporting the healthcare industry. Walter also serves as a director of American Express Company and Nordstrom, Inc.