- Push-out Score suggests push-out forces
- After almost three years on the job
- Accolades, praise and thanks for Pant
- Joey Wat taking over
- Pant will remain as Vice Chairman at Yum China
(exechange) — Shanghai, China, October 05, 2017 — Micky Pant, chief executive of Yum China, leaves. His departure is made public at an early stage. As announced by Yum China Holdings, Inc. in a news release and in a regulatory filing published on Thursday, October 05, 2017, Muktesh (Micky) Pant leaves the post as Chief Executive Officer at the fast-food restaurant company after almost three years on the job, effective March 01, 2018.
Pant’s duties are taken over by Joey Wat, currently President and Chief Operating Officer at Yum China Holdings, Inc.
No reason given
In the announcement, Yum China did not explicitly explain the reason for Pant’s move, leaving room for speculation.
Pant will remain as Vice Chairman at Yum China
“Micky Pant, will transition to the roles of Vice Chairman of the Board and Senior Advisor to the Company,” Yum China said.
Yum China said: “On September 29, 2017, Mr. Micky Pant notified the Board of Directors … of the Company that he would be stepping down from the office of Chief Executive Officer of the Company, effective March 1, 2018.”
Share price rise since April 2017
The change follows a rise in the share price of Yum China Holdings, Inc. since April 2017.
Chaired by Fred Hu
Yum China Holdings, Inc. is chaired by Fred Hu.
On the job as CEO since 2015
Pant has served as CEO and a member of the Board of Directors of Yum China since its spin-off from Yum! Brands, Inc. (“YUM”) and, prior to that, served as CEO of Yum! Restaurants China, a division of YUM.
Micky Pant has served as the Chief Executive Officer of the Company since October 2016.
He served as the Chief Executive Officer of the YUM China Division of YUM from August 2015 to October 2016.
Since 2006, Pant has held a number of leadership positions at YUM, including the Chief Executive Officer of the KFC Division, CEO of YRI, President of Global Branding for YUM, President of YRI, Chief Marketing Officer of YUM, Global Chief Concept Officer for YUM and President of Taco Bell International.
Before joining YUM, Pant built a foundation in marketing and international business with 15 years at Unilever in India and the U.K. and worked at PepsiCo, Inc. and Reebok International Limited.
Since December 2014, Pant has served as an independent director on the board of Pinnacle Foods, Inc., where he also serves on the audit committee.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Micky Pant’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 41.2017 ($).