Pizza Hut CEO resigns

LongRange Capital completed its $1.5B acquisition of Pizza Hut (excluding China) from Yum Brands, marking a new chapter for the pizza chain. Taco Bell and Salt & Straw launched a new churro ice cream taco nationwide. 7 Brew acquired 73 closed Salad and Go locations for $143M, expanding its footprint to over 800 shops.

Yum! Brands completed the sale of Pizza Hut (excluding Mainland China) to LongRange Capital for $1.5B, with a potential $75M earn-out by 2030. Combined with the sale of Pizza Hut China, total proceeds are $2.7B. Yum! plans to focus on growth and digital capabilities, aiming to deliver long-term shareholder value.

Yum! Brands completed the sale of Pizza Hut outside Mainland China to LongRange Capital for $1.5 billion, with a potential $75 million earn-out. The deal follows the sale of Pizza Hut's China business to Yum China. Yum! will focus on KFC, Taco Bell, and Habit Burger Grill, according to CFO Chris Turner.

Pizza Hut Global CEO Aaron Powell resigned on September 1, 2026, following the completion of the $2.7 billion sale of the chain to LongRange Capital. The deal, announced by Yum Brands, covers U.S. and most international markets, excluding mainland China. Powell had led Pizza Hut since 2021. The sale follows challenges like demand pressures and competition in the quick-service restaurant sector.

Yum Brands completed the $1.5 billion sale of Pizza Hut to LongRange Capital, excluding China operations. The deal, finalized September 1, 2026, ends Pizza Hut's 50-year tenure under Yum. Eduardo Luz becomes interim CEO, focusing on customers and franchise partners. Yum shares fell 0.68% post-announcement. Pizza Hut faces competition and declining market share.

Yum Brands has sold its Pizza Hut business outside of China for $1.5 billion. The deal includes Pizza Hut's international operations, excluding its China division. The sale is part of Yum's strategy to focus on its higher-growth brands. The buyer was not disclosed in the report.