PLANO, Texas - Pizza Hut, part of Yum! Brands, Inc. (NYSE: NYSE:YUM), today announced a key executive shift with Kalen Thornton taking on the role of Global Chief Brand Officer effective June 10. Thornton, with a rich background in marketing leadership, will be responsible for steering Pizza Hut's brand strategy and marketing across its 110 global markets.
Thornton's appointment comes after his tenure at PepsiCo (NASDAQ:PEP) North America as Vice President of Sports and Entertainment Marketing, where he led brand-building initiatives across sports entertainment properties. Prior to PepsiCo, he served as Chief Marketing Officer of Gatorade and held various marketing leadership roles at Nike (NYSE:NKE) and Jordan brands, spearheading significant brand campaigns.
Pizza Hut's Division Chief Executive Officer, Aaron Powell, expressed confidence in Thornton's ability to connect with consumers and maintain Pizza Hut's cultural significance. Thornton himself emphasized his commitment to fostering creativity, community, and culture within the brand's legacy.
In a concurrent move, Melissa Friebe will transition from Taco Bell to become Chief Marketing Officer for Pizza Hut U.S., reporting to Carl Loredo, the incoming U.S. President. Friebe brings nearly three decades of experience at Taco Bell, where she recently held the position of Chief Brand Strategy Officer.
Powell praised Friebe's ability to drive the brand forward and acknowledged the contributions of outgoing marketing leader Lindsay (NYSE:LNN) Morgan, who was instrumental in several Pizza Hut campaigns.
These executive changes reflect Pizza Hut's ongoing efforts to innovate and lead in the digital and technology space, with over half of its transactions coming from digital orders.
This news is based on a press release statement from Pizza Hut.
InvestingPro Insights
As Pizza Hut continues to strengthen its executive team for global brand strategy and marketing, it's important to consider Yum! Brands' recent financial performance and market position. According to InvestingPro data, Yum! Brands has a market capitalization of 39.9 billion USD, reflecting its significant presence in the fast-food industry. The company's P/E ratio stands at a competitive 24.69, with a slight adjustment to 23.7 over the last twelve months as of Q1 2024, indicating investors' confidence in its earnings potential relative to its share price.
InvestingPro Tips highlight that Yum! Brands has a history of consistent dividend payments, having raised its dividend for 6 consecutive years and maintained dividend payments for 21 consecutive years. This demonstrates the company's commitment to returning value to shareholders and suggests a stable financial foundation. Additionally, the company's stock generally trades with low price volatility, which may appeal to investors looking for a stable investment in the volatile fast-food sector.
With 20 analysts having revised their earnings downwards for the upcoming period, it's a critical time for the new leadership at Pizza Hut to drive growth and innovation. Despite these revisions, Yum! Brands' gross profit margin remains strong at 49.59%, and the company is trading near its 52-week high, with the price at 98.92% of this peak. This indicates a positive market sentiment and the potential for continued growth, especially as the company is predicted to be profitable this year, backed by a solid performance over the last twelve months.
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