Aaron Powell, Pizza Hut’s global CEO, doesn’t plan to stick around once the brand’s sale to LongRange Capital is finalized at the end of August.

In a post on LinkedIn, Powell announced that he will step down from the position and “begin my next chapter.” He said LongRange offered him “a continuing role,” but he “decided that at close was the right moment.”

“I’ve always believed in leaving things better than you found them,” Powell wrote, “and this business is in a better state. I am proud of what we did together: one global Pizza Hut, historic unit growth, strong international growth and U.S. business that is on the right track, delivering positive transaction growth.”

Powell came on board as Pizza Hut’s global CEO in September 2021. Prior to that, he was president of Kimberly-Clark Asia Pacific.

Pizza Hut, which is currently owned by Yum! Brands, has continued shrinking its footprint for more than a year. It shuttered 375 underperforming U.S. stores in fiscal year 2025 and another 250 in the first half of 2026. Even so, it remains the second largest pizza chain in the U.S., second only to its arch-rival, Domino’s.

In mid-June Yum! Brands announced it was selling Pizza Hut to LongRange Capital, a private equity firm, for $1.5 billion.

Pizza Hut ended FY 2025 with same-store sales down by 5% and systemwide sales down by 8%. Things haven’t improved much in 2026; comp sales fell 4% and systemwide sales declined 6% in the first quarter of 2026. The woes dragged into the second quarter, which saw U.S. comp sales drop by 2% and systemwide sales fall 5%.

Of course, it should be noted that the chain’s sales would have been heavily impacted by the closure of more than 600 stores nationwide.

The brand unveiled deep discounts on key menu items this summer as part of its Hut Originals platform, a throwback value menu. In May it also rolled out a new specialty pie, the Crispy Parm Pan Pizza.

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