(Reuters) -KFC ( YUM ) parent Yum Brands ( YUM ) said on Monday CEO David Gibbs has informed the board of his intention to retire from the company next year.

Gibbs, who joined the company in 1989 as an executive for Taco Bell, took on the role of Yum's chief executive officer in January 2020.

The board has established a succession planning committee to appoint the company's next CEO, the company said.

Gibbs will continue to lead the company throughout the search process until his retirement, expected in the first quarter of 2026.