- AffiliationYum China
- 2020 Rank18
The pandemic hit the food and beverage business hard, and Yum China, owner of KFC, Pizza Hut, and Taco Bell in China, didn’t escape the damage. Revenue slid 6% in 2020. But under Wat, who became Yum China CEO in 2018, the fast food company reported a strong second quarter for 2021; it posted 29% revenue growth and an 83% profit increase from the same time last year. Yum China has expanded in recent months, opening 1,165 new stores in 2020—an annual high—and another 719 in the first half of 2021 as part of its push into smaller Chinese cities. Wat now oversees 400,000 employees; 60% of all staff and 60% of management are female. This year, Yum China committed to setting science-based emissions reduction targets; in January, KFC and Pizza Hut launched new plastic reduction campaigns.
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