Yum China Holdings Inc. which operates KFC and Pizza Hut restaurants in China announced that Jacky Lo, who has served as the Company's Chief Financial Officer since June 2017, intends to leave the company to pursue professional opportunities in Hong Kong to be closer to his family.
Jacky will step down as the company's CFO effective October 16, 2019. Ka Wai Andy Yeung will assume the role of Chief Financial Officer of the Company effective the same day.
Joey Wat, Yum China's CEO stated, “We are grateful for all of the contributions Jacky has made to the Company and recognize the critical role he played in growing and strengthening our business since the spin-off, as well as for his ongoing engagement on succession discussions to ensure a smooth CFO transition.”
Meanwhile, Andy Yeung was the CFO of Smart Finance International Limited, a financial technology company from April 2017 to August 2019. He also served as the CFO of Cheetah Mobile Inc., a mobile internet company listed on the NYSE and headquartered in Beijing, China, from January 2014 to March 2017. Prior to that, he worked at Oppenheimer & Co. Inc. as director, executive director and then managing director, responsible for research coverage of China's internet and media sectors. He is an alumnus from the Yale University School of Management with an MBA degree and the University of California, Berkeley with dual degrees in Mechanical Engineering and Applied Mathematics. He has been a Chartered Financial Analyst charter holder since 2001.
With this appointment, Yum China will be hoping to leverage his wealth of knowledge to this critical role, and his deep experience in all facets of finance, which will be a tremendous asset to the company as it looks forward to capitalize on market opportunities and work to generate significant long-term value for its shareholders.