Yum China Holdings Management

Management criteria checks 1/4

Yum China Holdings' CEO is Joey Wat, appointed in Mar 2018, has a tenure of 6.75 years. total yearly compensation is $20.34M, comprised of 7% salary and 93% bonuses, including company stock and options. directly owns 0.14% of the company’s shares, worth $26.58M. The average tenure of the management team and the board of directors is 0.9 years and 7.4 years respectively.

Key information

Joey Wat

Chief executive officer

US$20.3m

Total compensation

CEO salary percentage	7.0%
CEO tenure	6.8yrs
CEO ownership	0.1%
Management average tenure	less than a year
Board average tenure	7.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Joey Wat's remuneration changed compared to Yum China Holdings's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$893m
Jun 30 2024	n/a	n/a	US$840m
Mar 31 2024	n/a	n/a	US$825m
Dec 31 2023	US$20m	US$1m	US$827m
Sep 30 2023	n/a	n/a	US$783m
Jun 30 2023	n/a	n/a	US$745m
Mar 31 2023	n/a	n/a	US$631m
Dec 31 2022	US$16m	US$1m	US$442m
Sep 30 2022	n/a	n/a	US$864m
Jun 30 2022	n/a	n/a	US$762m
Mar 31 2022	n/a	n/a	US$860m
Dec 31 2021	US$17m	US$1m	US$990m
Sep 30 2021	n/a	n/a	US$666m
Jun 30 2021	n/a	n/a	US$1b
Mar 31 2021	n/a	n/a	US$952m
Dec 31 2020	US$21m	US$1m	US$784m
Sep 30 2020	n/a	n/a	US$723m
Jun 30 2020	n/a	n/a	US$507m
Mar 31 2020	n/a	n/a	US$553m
Dec 31 2019	US$12m	US$1m	US$713m
Sep 30 2019	n/a	n/a	US$697m
Jun 30 2019	n/a	n/a	US$677m
Mar 31 2019	n/a	n/a	US$642m
Dec 31 2018	US$10m	US$1m	US$708m
Sep 30 2018	n/a	n/a	US$527m
Jun 30 2018	n/a	n/a	US$500m
Mar 31 2018	n/a	n/a	US$482m
Dec 31 2017	US$8m	US$740k	US$398m

Compensation vs Market: Joey's total compensation ($USD20.34M) is above average for companies of similar size in the UK market ($USD5.77M).

Compensation vs Earnings: Joey's compensation has increased by more than 20% in the past year.

CEO

Joey Wat (53 yo)

6.8yrs

Tenure

US$20,335,792

Compensation

Ms. Joey Wat has been the Chief Executive Officer of Yum China Holdings, Inc. since March 1, 2018 and served as its President and Chief Operating Officer since February 7, 2017 until February 2018. Ms. Wat...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Joey Wat	CEO & Executive Director	6.8yrs	US$20.34m	0.14% $ 26.6m
Ka Wai Yeung	Senior Advisor	less than a year	US$4.82m	0.021% $ 3.8m
Adrian Ding	Acting Chief Financial Officer	less than a year	no data	0.0094% $ 1.7m
Xueling Lu	Controller & Principal Accounting Officer	6.9yrs	no data	0.0059% $ 1.1m
Leila Zhang	Chief Technology Officer	6.8yrs	no data	0.013% $ 2.4m
Pingping Liu	Chief Legal Officer	less than a year	no data	0.0033% $ 599.8k
Jerry Ding	Chief People Officer	less than a year	no data	0.00039% $ 71.8k
Duoduo Huang	Chief Supply Chain Officer	3.1yrs	no data	0.0029% $ 539.1k
Chen Maggie	Chief Customer Officer	less than a year	no data	no data
Hui Huang	Joint Company Secretary	less than a year	no data	no data
Ling Zhang	Joint Company Secretary	less than a year	no data	no data
Michelle Shen	Director of Investor Relations	no data	no data	no data

0.9yrs

Average Tenure

51yo

Average Age

Experienced Management: 0M30's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Joey Wat	CEO & Executive Director	7.4yrs	US$20.34m	0.14% $ 26.6m
Peter A. Bassi	Independent Non-Executive Director	8.2yrs	US$385.00k	0.015% $ 2.7m
Edouard Ettedgui	Independent Non-Executive Director	8.2yrs	US$348.00k	0.014% $ 2.5m
Rong Lu	Independent Non-Executive Director	8.2yrs	US$350.00k	0.015% $ 2.8m
Robert Aiken	Director	less than a year	no data	0.0032% $ 586.9k
Zuliu Hu	Independent Non-Executive Chairman	8.1yrs	US$560.00k	0.018% $ 3.4m
Mikel Durham	Independent Director	less than a year	no data	0.0012% $ 215.3k
Zili Shao	Independent Non-Executive Director	8.2yrs	US$352.50k	0.013% $ 2.3m
Min Zhang	Independent Non-Executive Director	3.6yrs	US$355.00k	0.0030% $ 555.7k
Yang Wang	Independent Non-Executive Director	7.4yrs	US$327.50k	0.013% $ 2.4m
David L. Hoffmann	Independent Director	1.4yrs	US$304.79k	0.0039% $ 723.1k
Xiaojing Zhu	Independent Director	1.6yrs	US$315.00k	0.0027% $ 494.9k

7.4yrs

Average Tenure

58.5yo

Average Age

Experienced Board: 0M30's board of directors are considered experienced (7.4 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/21 12:33
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Yum China Holdings, Inc. is covered by 63 analysts. 36 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Hong Xing Pan	ABCI Securities Company Limited
Edward Lewis	Atlantic Equities LLP
Jiangqiao Tong	BOCI Research Ltd.

Yum China Holdings Management

Management criteria checks 1/4

Key information

Recent management updates

Yum China Holdings, Inc. Announces Change of Composition of Board Committees

Yum China Holdings, Inc. Approves the Appointment of Robert B. Aiken as Director

Yum China Holdings, Inc., Annual General Meeting, May 23, 2024

Yum China Holdings, Inc. Announces Executive Changes

Yum China Holdings, Inc. Announces Executive Appointments

Independent Non-Executive Director recently sold US$1.1m worth of stock

Recent updates

Yum China Holdings, Inc. Officially Launches Digital Supplier Recruitment Platform at China International Supply Chain Expo

Upcoming dividend of US$0.16 per share

Third quarter dividend of US$0.16 announced

Yum China Holdings, Inc. Declares Cash Dividend on its Common Stock, Payable on December 17, 2024

Third quarter 2024 earnings released: EPS: US$0.77 (vs US$0.59 in 3Q 2023)

Yum China Holdings, Inc. to Report Q3, 2024 Results on Nov 04, 2024

Investor sentiment improves as stock rises 23%

Yum China Holdings, Inc. Announces Change of Composition of Board Committees

Upcoming dividend of US$0.16 per share

Second quarter dividend of US$0.16 announced

Second quarter 2024 earnings released: EPS: US$0.55 (vs US$0.47 in 2Q 2023)

Yum China Holdings, Inc. Declares Cash Dividend, Payable on September 17, 2024

Yum China Holdings, Inc. to Report Q2, 2024 Results on Aug 05, 2024

Now 26% undervalued after recent price drop

Now 20% undervalued after recent price drop

Yum China Holdings, Inc. Approves the Appointment of Robert B. Aiken as Director

Upcoming dividend of US$0.16 per share

First quarter dividend of US$0.16 announced

Yum China Holdings, Inc. Declares Cash Dividend, Payable on June 18, 2024

First quarter 2024 earnings released: EPS: US$0.72 (vs US$0.69 in 1Q 2023)

Yum China Holdings, Inc., Annual General Meeting, May 23, 2024

Yum China Holdings, Inc. to Report Q1, 2024 Results on Apr 29, 2024

Upcoming dividend of US$0.16 per share

Fourth quarter dividend increased to US$0.16

Full year 2023 earnings released: EPS: US$1.99 (vs US$1.05 in FY 2022)

Yum China Holdings, Inc. Declares Cash Dividend, Payable on March 26, 2024

Yum China Holdings, Inc. Announces Executive Changes

Yum China Holdings, Inc. to Report Q4, 2023 Results on Feb 06, 2024

Upcoming dividend of US$0.13 per share at 1.1% yield

Third quarter 2023 earnings released: EPS: US$0.59 (vs US$0.49 in 3Q 2022)

Yum China Holdings, Inc. Declares Cash Dividend, Payable on December 19, 2023

Now 29% undervalued after recent price drop

Yum China Holdings, Inc. to Report Q3, 2023 Results on Oct 31, 2023

Now 21% undervalued after recent price drop

Upcoming dividend of US$0.13 per share at 1.0% yield

Investor sentiment deteriorates as stock falls 39%

Now 21% undervalued after recent price drop

Yum China Holdings, Inc. Declares Quarterly Dividend for the Second Quarter Ended June 30, 2023, Payable on September 18, 2023

New major risk - Share price stability

Second quarter 2023 earnings released: EPS: US$0.47 (vs US$0.20 in 2Q 2022)

Now 20% undervalued after recent price drop

Yum China Holdings, Inc. to Report Q2, 2023 Results on Jul 31, 2023

Yum China Holdings, Inc. Announces Executive Appointments

Upcoming dividend of US$0.13 per share at 0.9% yield

Independent Non-Executive Director recently sold US$1.1m worth of stock

Yum China Holdings, Inc. Declares Quarterly Dividend for the Period Ended 31 March 2023, Payable on 20 June 2023

First quarter 2023 earnings released: EPS: US$0.69 (vs US$0.23 in 1Q 2022)

Upcoming dividend of US$0.13 per share at 0.9% yield

Full year 2022 earnings released: EPS: US$1.05 (vs US$2.35 in FY 2021)

Yum China Holdings, Inc. Declares Cash Dividend Payable on March 28, 2023

Yum China Holdings, Inc. to Report Q4, 2022 Results on Feb 07, 2023

Upcoming dividend of US$0.12 per share

Insufficient new directors

Investor sentiment improved over the past week

Third quarter 2022 earnings released: EPS: US$0.49 (vs US$0.25 in 3Q 2021)

Yum China Holdings, Inc. Declares Cash Dividend, Payable on December 20, 2022

Investor sentiment deteriorated over the past week

Yum China Holdings, Inc. to Report Q3, 2022 Results on Nov 01, 2022

Yum China Holdings, Inc.(NYSE:YUMC) dropped from FTSE All-World Index (USD)

Upcoming dividend of US$0.12 per share

Yum China Holdings, Inc. Announces Dividend for the Quarter Ended June 30, 2022, Payable on September 15, 2022

Second quarter 2022 earnings released: EPS: US$0.20 (vs US$0.43 in 2Q 2021)

Yum China Holdings, Inc. to Report Q2, 2022 Results on Jul 28, 2022

Now 23% undervalued

Investor sentiment improved over the past week

Investor sentiment deteriorated over the past week

Now 23% undervalued

Insufficient new directors

Yum China Holdings, Inc. Announces Executive Appointments