Yum! Brands

Yum! Brands operates or licenses Taco Bell, KFC, Pizza Hut, and other restaurants. It generates more than half of its overall operating profit in China, where it is the biggest Western restaurant operator with roughly 6,000 mostly KFC restaurants.

Greg Creed will take over at a pivotal time for Yum's operations in China.

Taco Bell CEO to take the helm at Yum Brands

Greg Creed, who has led the Taco Bell chain since early 2011, will replace David Novak as Yum's chief executive on January 1 next year, the company said on Thursday.