(Updates share price in fifth paragraph.)
Nov. 22 (Bloomberg) -- Yum! Brands Inc., which owns the KFC and Taco Bell restaurant chains, will separate its India business from its international segment to highlight the country’s potential growth.
Yum is reorganizing its international division and appointed Micky Pant, 57, as chief executive officer of that segment, the Louisville, Kentucky-based company said today in a statement. Niren Chaudhary, 48, was named president of Yum’s India business.
While Yum has sought to boost sales by aggressively opening stores in China, it’s now underscoring a focus on India, says Sara Senatore, an analyst at Sanford C. Bernstein & Co. in New York, who rates the shares “market perform.”
“It makes sense to start talking about this separately,” Senatore said. Yum’s business in India is growing rapidly as “their brands have resonated in that market,” she said.
Yum rose 1.9 percent to $54.51 at the close in New York. The shares have gained 11 percent this year.
The company had about 275 KFC and Pizza Hut locations in India and more than 4,100 stores in China.
--Editors: Kevin Orland, James Callan
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