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Fortune

Fortune Editors

Yum China’s CEO on Chinese consumers’ incredible hunger for foreign brands

Joey Wat Alan Murray Yum China YUM China KFC Pizza Hut Michal LevRam Taco Bell United States

(Credit: Courtesy of Yum China)

On a recent episode of Fortune’s Leadership Next podcast, co-host Alan Murray talks with Joey Wat, CEO of Yum China. The company, which is listed on both the New York and Hong Kong stock exchanges, was spun off from Yum! in 2016. Wat, who started working at age 9 in a factory in Hong Kong, oversees 14,000 stores across brands including KFC, Pizza Hut, Taco Bell, Little Sheep, and Huang Ji Huang. About 90% of the restaurants are company-owned, with just 10% run by franchisees. In 2024, Yum China will open more than four new stores per day.

Co-host Michal Lev-Ram was off for this week.

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