Yum! Brands Appoints DICK’S Sporting Goods (DKS) President Lauren Hobart To Board

By Amit Chowdhry ● October 13, 2020
  • Yum! Brands, Inc. (NYSE: YUM) announced it appointed DICK’S Sporting Goods (NYSE: DKS) president Lauren Hobart to its board of directors

Yum! Brands, Inc. (NYSE: YUM) has announced it has appointed DICK’S Sporting Goods (NYSE: DKS) president Lauren Hobart to its board of directors, effective November 12, 2020.

And Yum! Brands also announced that Michael J. Cavanagh will retire from the Yum! Brands Board of Directors. Cavanagh — who is Senior Executive Vice President and Chief Financial Officer of Comcast Corporation — joined the Yum! Brands Board in 2012.

The Yum! Brands Board also 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, CEO and President of National Gypsum Company, and a Yum! Brands Director since 2006, will remain a member of the Yum! Brands Board.

Hobart has served as President of DICK’S Sporting Goods since 2017. And in this role, she oversees the Stores, Marketing, eCommerce, Technology, HR, Legal, and Strategy & Analytics organizations. Hobart joined DICK’S in 2011 and held leadership roles including Executive Vice President, Chief Customer & Digital Officer and Chief Marketing Officer. Before 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 joining PepsiCo, Hobart was at Wells Fargo and JPMorgan Chase.

Plus Hobart is also President of The DICK’S Sporting Goods Foundation and serves on the DICK’S Board of Directors. She served on the board of Sonic Corp. for five years. Hobart is a graduate of The University of Pennsylvania and has an MBA from Stanford University.

KEY QUOTES:

“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. 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.”

— Brian Cornell, Non-Executive Chairman of the Yum! Brands Board of Directors and Chairman and Chief Executive Officer of Target Corporation

“The events of this year have accelerated many consumer trends in the restaurant industry, particularly around digital, technology and delivery. 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.”

“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. 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.”

— David Gibbs, Chief Executive Officer, Yum! Brands