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Yum! Prepares to Complete Board Transition Plan

Robert Walter will serve as non-executive chairman of the board for Yum! Brands, effective May 20, 2016. Walter succeeds David Novak, who previously announced his plan to retire as executive chairman and step down from the board.

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.