Yum! Brands Appoints DICK’S Sporting Goods President Lauren Hobart to Board
Yum! Brands has appointed Lauren R. Hobart, President of DICK’S Sporting Goods, to its Board of Directors, effective November 12, 2020. Her extensive retail experience, particularly in digital transformation and e-commerce, is expected to strengthen Yum! Brands’ growth strategy. As Michael J. Cavanagh retires from the Board, Paget Alves will take over as Chair of the Audit Committee. Hobart's leadership background from PepsiCo and DICK’S highlights her capabilities in brand-building and operational strategy.
- Lauren Hobart's appointment brings digital and operational expertise to Yum! Brands.
- Experience in e-commerce is aligned with current consumer trends in the restaurant industry.
- Leadership changes may provide fresh perspectives and strategic direction.
- Retirement of Michael J. Cavanagh could lead to a gap in experience on the Board.
LOUISVILLE, Ky.--(BUSINESS WIRE)--Yum! Brands, Inc. (NYSE: YUM) today announced the appointment of Lauren R. Hobart, President of DICK’S Sporting Goods, Inc. (NYSE: DKS), to its Board of Directors, effective November 12, 2020.
“Lauren will make an excellent addition to the Yum! Brands Board as she brings broad leadership experience and a wealth of knowledge from well-known and highly respected retail and consumer products companies,” said Brian Cornell, Non-Executive Chairman of the Yum! Brands Board of Directors and Chairman and Chief Executive Officer of Target Corporation. “We look forward to the insights and many contributions she will bring as we continue to position Yum! Brands as an even stronger global growth company for all our stakeholders.”
“The events of this year have accelerated many consumer trends in the restaurant industry, particularly around digital, technology and delivery,” said David Gibbs, Chief Executive Officer, Yum! Brands. “Lauren has demonstrated strong leadership driving DICK’S digital transformation and the growth of its e-commerce business and has an impressive brand-building, operational and marketing track record. These strengths, along with Lauren’s experience in the foodservice industry, will be invaluable as we elevate and invest in our customer and employee experience with technology and innovation at the forefront.”
Yum! Brands also announced that Michael J. Cavanagh will retire from the Yum! Brands Board of Directors. Cavanagh, Senior Executive Vice President and Chief Financial Officer of Comcast Corporation, joined the Yum! Brands Board in 2012.
In addition, the Yum! Brands Board has appointed Paget Alves, former Chief Sales Officer of Sprint Corporation and a Yum! Brands Director since 2016, to serve as Chair of the Audit Committee succeeding Thomas C. Nelson, effective November 12. Nelson, Chairman, Chief Executive Officer and President of National Gypsum Company and a Yum! Brands Director since 2006, will remain a member of the Yum! Brands Board.
“On behalf of the Board, we sincerely thank Mike for all of his contributions and the unique business perspective he has brought to Yum! Brands over the years,” said Gibbs. “We also want to thank Paget for taking on his new role as Chair of the Audit Committee and extend our gratitude to Tom for his service leading the Committee for the past eight years. We look forward to their continued leadership on the Yum! Brands Board.”
About Lauren Hobart
Hobart has served as President of DICK’S Sporting Goods, a leading omni-channel sporting goods retailer with 727 locations across the United States, since 2017. In this role, she oversees the Stores, Marketing, eCommerce, Technology, HR, Legal, and Strategy & Analytics organizations. Hobart joined DICK’S in 2011 and has held leadership roles including Executive Vice President, Chief Customer & Digital Officer and Chief Marketing Officer. Prior to joining DICK’S, Hobart spent 14 years at PepsiCo in various strategic planning and marketing roles, including Chief Marketing Officer of Carbonated Soft Drinks in North America. Prior to PepsiCo, Hobart was at Wells Fargo and JPMorgan Chase.
In addition to her current duties, Hobart is President of The DICK’S Sporting Goods Foundation and serves on the DICK’S Board of Directors. She also served on the board of Sonic Corp. for five years. Hobart is a graduate of The University of Pennsylvania and holds an MBA from Stanford University.
About Yum! Brands, Inc.
Yum! Brands, Inc., based in Louisville, Kentucky, has over 50,000 restaurants in more than 150 countries and territories, making it a leader in global retail development primarily operating the company’s brands – KFC, Pizza Hut and Taco Bell – global leaders of the chicken, pizza and Mexican-style food categories. The Company’s family of brands also includes The Habit Burger Grill, a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. In 2019, Yum! Brands was named to the Dow Jones Sustainability North America Index and in 2020, the company ranked among the top 100 Best Corporate Citizens by 3BL Media.
