Grismer, 53, has worked for Yum since 2002 in various senior finance and planning roles, the release states. He will complete the Louisville-based restaurant giant’s year-end financial report before departing and will still present at the company’s annual investors conference this Thursday.
“This was a difficult personal decision for me, as this is an exciting time for the Company as it embarks on its strategic transformation,” Grismer said in the release. “I’m confident that both Yum! and Yum! China will capitalize on the excellent growth opportunities ahead.”
Grismer is leaving amid a major shift in the company’s operations. Yum Brands is spinning off its China operations.
“Pat has added tremendous value as CFO of our company and has been an excellent partner to me,” Yum CEO Greg Creed said in the release. “I respect his personal decision to move to be geographically closer to family members, and I wish him all the best.
“We have a strong and seasoned team of financial executives who have the expertise and experience needed to ensure a seamless transition and to execute a smooth separation of our China business.”
Yum will search internally and externally for its next CFO, according to the release. No timeline was given on when the company hopes to name a replacement.
Yum is the parent company of Taco Bell, Pizza Hut and KFC. It has more than 41,000 restaurants worldwide.