Shanghai / CN. (yb) Yum! China Holdings (Yum! Brands Inc.) announced the appointment of Jacky Lo as its Interim Chief Financial Officer, effective June 01, 2017. Lo will replace Edwin «Ted» Stedem, who is resigning as the Company’s Chief Financial Officer effective June 01, 2017, for personal and family reasons.
«I have a tremendous belief in the strength of our brands and the quality of our people», said Ted Stedem. «I have decided to return to the U.S., after consideration of family priorities and personal needs, in time for the next school year».
«Ted has made a great contribution to Yum China, especially in the spin-off process and in setting up a strong and capable finance team», said Micky Pant, CEO of Yum China. «While thanking him for his contributions, I fully respect his personal decision to move back from Shanghai to the U.S. with his family. We wish him all the best».
«At the same time, I am pleased that Jacky will step in as the interim CFO», Pant commented. «Jacky has been the lead officer for our financial reporting and filings. He is a high caliber finance professional and an excellent culture fit with extensive work experience in both the U.S. and China. I have full confidence that Jacky will successfully lead our team of experienced finance executives to ensure a seamless transition».
Lo is Vice President, Controller and principal accounting officer of the Company and he will continue to serve in this position alongside the role as interim Chief Financial Officer. Lo joined Yum! Restaurants China, a division of Yum! Brands Inc., in August 2016 as Vice President, Finance.
Prior to joining Yum!, Lo worked for Ernst + Young for 15 years, including most recently as Partner and the Deputy Director in the Asia Pacific Capital Markets Center of Ernst + Young’s Professional Practice Group, specializing in U.S. generally accepted accounting principles, SEC reporting and Sarbanes Oxley compliance requirements. Lo is a certified public accountant in Texas and a member of both the American Institute of Certified Public Accountants and the Hong Kong Institute of Certified Public Accountants.
