Powell Departs as Pizza Hut CEO Following Yum Brands' Sale to LongRange Capital and Yum China
Aaron Powell has stepped down as CEO of Pizza Hut after leading the restaurant chain globally since 2021. The move comes following the completion of Yum Brands' sale of Pizza Hut to LongRange Capital and Yum China, a transaction valued at an aggregate $2.7 billion. According to an 8-K filing by Yum with the US Securities and Exchange Commission, Powell resigned as Pizza Hut CEO and from all other positions with Yum Brands effective September 1, 2026.
The sale of Pizza Hut's global business, excluding mainland China, was completed for $1.488 billion in cash, subject to adjustments. Powell had previously indicated that he would leave Pizza Hut after the LongRange transaction closed, stating that he believed the business was in a better position than when he took charge, citing global unit expansion and improving transaction trends in the US.
Powell joined Yum as global Pizza Hut Division CEO in September 2021, having previously served as President of Kimberly-Clark's Asia-Pacific consumer business. He has over 14 years of experience at Kimberly-Clark and earlier spent four years at Bain & Company and eight years in sales leadership and brand management roles at Procter & Gamble.