UNITED STATES |
SECURITIES AND EXCHANGE COMMISSION |
Washington, D. C. 20549 |
North Carolina | 13-3951308 | ||
(State or other jurisdiction of | (I.R.S. Employer | ||
incorporation or organization) | Identification No.) | ||
1441 Gardiner Lane, Louisville, Kentucky | 40213 | ||
(Address of principal executive offices) | (Zip Code) | ||
Registrant's telephone number, including area code: (502) 874-8300 | |||
Former name or former address, if changed since last report:N/A |
Section 5 - Corporate Governance and Management | |
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
(d) | Appointment of New Directors | |
On November 20, 2014, the Company's Board of Directors appointed Elane Stock as a director. The appointment is effective immediately and she will stand for election to the Board by shareholders at the Company’s next Annual Meeting. As of this filing, Ms. Stock has not been appointed to a committee of the Board. Consistent with the Company's standard compensation arrangements for non-employee directors, which are described in the Company's most recent proxy statement, Ms. Stock will receive a one-time stock grant with a fair market value of $25,000 on the effective date of her appointment and a prorated portion of her annual stock retainer and stock appreciation rights grant. There is no arrangement or understanding between Ms. Stock or any other person pursuant to which she was selected as a director. | ||
On November 20, 2014, the Company's Board of Directors also appointed Greg Creed as a director. The appointment is effective immediately. Mr. Creed, as previously disclosed, will become Chief Executive Officer on January 1, 2015. He is currently Chief Executive Officer of the Company’s Taco Bell Division. He will stand for election to the Board by shareholders at the Company’s next Annual Meeting. There is no arrangement or understanding between Mr. Creed or any other person pursuant to which he was selected as a director. |
YUM! BRANDS, INC. | ||||
(Registrant) |
Date: | November 20, 2014 | /s/ John P. Daly | ||
Vice President and | ||||
Associate General Counsel | ||||