March 31 (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.