Yum! Brands: appoints new member to Board

Louisville / KY. (yb) Yum! Brands Inc. announced the appointment of Michael J. Cavanagh, 46, to its Board of Directors. Cavanagh is the Co-Chief Executive Officer of JPMorgan Chase + Co.´s Corporate + Investment Bank based in New York, New York. The appointment will be effective immediately. «Michael Cavanagh will make an outstanding addition to the Yum! Brands Board of Directors. Mike is a leader of one of the largest financial services businesses in the world, with demonstrated leadership capabilities and extensive experience in global markets, strategic investment, cash management and retail. His expertise will be highly valuable as we invest in our future growth and continue our long-term strategy as a global leader in restaurant development with returns on invested capital among the highest in our industry», said David C. Novak, Yum! Brands Chairman and Chief Executive Officer. Cavanagh was appointed Co-CEO of JPMorgan Chase + Co.´s Corporate + Investment Bank in July of this year. Prior to that, he was the Chief Executive Officer of JPMC´s Treasury + Securities Services business, one of the world´s largest cash management providers and a leading global custodian.