“Fast-food chain Yum! Brands Inc. (YUM) said Tuesday that it has promoted Chief Financial Officer Rick Carucci to the post of president, taking over the role from Chief Executive Officer David Novak,” according to RTTNews.com. “He will be succeeded as chief financial officer by Patrick Grismer, currently the company’s chief planning and control officer.

Carucci, aged 54, will report to Chairman and CEO Novak. Leaders of Taco Bell, KFC and Pizza Hut in the U.S., Yum! Restaurants International (YRI) and Corporate Finance will report to Carucci.

The CEOs of the China and India divisions as well as corporate functional leaders will continue to report to Novak.

Carucci is a 16 year veteran of the restaurant industry, including senior general management, financial and development roles for Yum! Restaurants International. He has served as Yum! Brands’ CFO since 2005.”