Yum China announces CFO resignation

Adrian Ding will become acting CFO starting 1 October.

Yum China Holdings, Inc. has announced that Andy Yeung, chief financial officer since October 2019, will resign for personal reasons effective 30 September. Yeung will then serve as senior advisor to the CEO until 28 February 2025. 

Adrian Ding, currently chief investment officer and general manager of the Lavazza joint venture, will become acting CFO starting 1 October.

Joey Wat, CEO of Yum China, thanked Yeung for his contributions, particularly during the pandemic. "Shortly after joining us in 2019, Andy played a critical role as a core member of the leadership team throughout the pandemic. His efforts were instrumental in enhancing the company's financial strength, establishing robust cost discipline and supporting our growth strategy,” he said.

“He also successfully led the completion of our listing in Hong Kong. Under his leadership, the finance team further strengthened its capabilities and upgraded systems and processes in key areas,” Wat added.

The chief executive also expressed confidence in Ding’s ability to continue the company’s growth strategy. 

Ding has been with Yum China since March 2019 and has previously worked at Alibaba Group and UBS AG.

Additionally, Yum China also announced the appointment of Mikel Durham to its board of directors, effective 12 August. The board will expand to 12 members, with ten being independent.

Durham’s previous roles include CEO of American Seafoods Group and executive positions at PepsiCo, Cadbury Schweppes, and Diageo. She has also served on the board of Tyson Foods, Inc. and the Marine Stewardship Council.

Yum China is expected to benefit from Durham’s strategic guidance as the company continues to implement its RGM 2.0 strategy, focusing on resilience, growth, and competitive advantage.