Shanghai / CN. (yumc) Yum China Holdings Inc. announced the appointment of Ruby Lu to the Board of the Directors, effective immediately. The appointment will increase the size of the Board of Directors to 10 members, 8 of whom are independent. «I am delighted to welcome Ruby to our Board of Directors», said Yum China Non-executive Chairman Dr. Fred Hu. «She brings a wealth of experience in high growth technology companies in China and will be an asset to our team. I have no doubt that she will provide an invaluable perspective as we look to chart the next phase of our growth in China, particularly as we scale our digital capabilities. I look forward to working with Ruby and the rest of the Board to help Yum China realize its full potential and generate sustainable value for shareholders». Ruby Lu is an independent venture capitalist investing in technology start-ups in the US and China. Previously, she was the co-founder of DCM China – an early stage venture capital firm. During her over-twelve years’ tenure at DCM, she invested in and served as a board member of many leading technology companies including BitAuto Holdings Limited, E-Commerce China Dangdang Inc., and Pactera Technology International Ltd. She also served as an independent director and chairman of the special committee for iDreamSky Technologies Limited before it was taken private. She is currently an independent director and chairman of the special committee for iKang Healthcare Group Inc. Prior to joining DCM in 2003, Lu was a vice president in the technology, media and telecommunications investment banking group of Goldman Sachs + Co. in Menlo Park, California.
About Yum China Holdings
Yum China Holdings Inc., with executive offices in Shanghai, China, is a licensee of Yum! Brands in mainland China. It has exclusive rights in mainland China to KFC, China’s leading quick-service restaurant concept, Pizza Hut, the leading casual dining restaurant brand in China, and Taco Bell, which is expanding globally and opening in China in 2016. Yum China also owns the Little Sheep and East Dawning concepts outright. Yum China is well positioned for growth thanks to its strong competitive position, integration of its brands into Chinese popular culture and consumers’ daily lives, expanding geographic footprint in China and existing operational expertise. It has a strong capital position, no external debt and expects to continue growing its system sales and profit by adding new restaurants and through growing same-store sales. Yum China has more than 7’300 restaurants and more than 400’000 employees in over 1’100 cities, and generated over 8 billion USD in system sales in 2015. A new generation of younger consumers who are digitally sophisticated and brand driven are fueling growth in consumption in China. The ongoing growth of the middle class and urban population in China is expected to create the world’s largest market for restaurant brands, with Yum China poised to be the market leader.
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