Yum China says CFO to step down; KFC, Pizza Hut provide earnings boost

(Reuters) -Yum China said on Monday finance chief Andy Yeung was stepping down after nearly five years in the role and that its quarterly earnings were boosted by strong performance at its KFC and Pizza Hut franchises.

Chief Investment Officer Adrian Ding will replace Yeung, who cited personal reasons for his resignation, as CFO on an interim basis, it said.

Ding is general manager of the company's Lavazza joint venture, which aims to open 1,000 cafes in China by 2025.

Yum China's second-quarter net income rose 8% to $212 million from a year earlier.

"By reducing the complexity of menus and operations, and harnessing the power of automation and AI, we improved operational efficiency," CEO Joey Watt said.

The company opened more KFC stores during the period and recorded a 2% rise in total revenue from these operations.

KFC gained market share on delivery platforms, amid an economic downturn in the mainland, by expanding price range and reducing delivery fees, Watt said.

"Pizza Hut attracted value-conscious customers with its entry-price pizzas and solo diners with its Pizza Dough Burger," he added.

U.S.-listed shares of the fast food chain were up about 1% at $29.8, after the bell.

(Reporting by Roshan Thomas and Anuja Bharat Mistry in Bengaluru; Editing by Anil D'Silva and Mohammed Safi Shamsi)