Something that is particularly true because she rose from being the President to being the CEO of KFC China before making further transitions to becoming the President and then the CEO of Yum China by March of 2018. YUM China employs close to 460,000 people. CEO Joey Wat … Based on the name, interested individuals should have no problems predicting some kind of connection between her corporation and Yum! Wat has described herself as a foodie in the past. Following her time with A.T. Kearney, Wat went to work with other consulting firms, which were mixed in with various managerial positions as well. This site uses Akismet to reduce spam. As a result, Wat went to Hong Kong University, which can claim the honor of being the first institute of tertiary education founded in the region. For more information. For more information. Chinese is a language that is peppered with pithy sayings. Wat then served as president and chief operating officer of Yum China and became a member of the firm's board of directors in 2017. First, while she might be a foodie, she wasn’t drawn to Yum China by the food elements but rather by the retail elements. YUM is China's largest restaurant company that includes chains like KFC, Pizza Hut, and Taco Bell. Terms & Conditions. [6][7], Wat started her career as a consultant at A.T. Kearney,[8] and then from 2000 to 2003 as a management consultant at McKinsey & Company in Hong Kong. For instance, Wat was involved in rescuing Savers Health & Beauty in the 2000s as the Managing Director of Watson U.K. For those who are unfamiliar with that name, Savers Health & Beauty is a U.K. store chain that specializes in health, beauty, and household products, which is bringing in solid numbers in the present but was struggling to survive in those times. Fujian-born Yum China CEO Joey Wat is not one to shy away from a challenge. As stated earlier, Yum China has had a strong position in the Chinese market for some time. Fujian-born Yum China CEO Joey Wat is not one to shy away from a challenge. Offers may be subject to change without notice. When she was still a child, Wat’s family moved to Hong Kong. In September 2014, she moved back to China and joined Yum China, where she served as president of KFC China before being promoted to chief executive officer of KFC China in 2015. All Rights Reserved. Brands. In short, Fujian is a coastal province of China with a subtropical climate. Now at Yum China, Wat is carrying out a major face-lift of the group—overseeing the renovation of 95% of KFC stores, which account for roughly 70% of Yum China’s revenues, and opening over 1,000 new KFC locations across the country. David Gibbs became Chief Executive Officer of Yum! Wat took a huge chance in getting involved because the situation was so bad that most of the stores weren’t even making money. Joey Chui Yung Wat (Chinese: 屈翠容; pinyin: Qū Cuìróng; born c. 1971) is a chief executive officer of Yum China Holdings, Inc. (NYSE: YUMC). 2 Cautionary Statements Forward-Looking Statements. [14][13], It may require cleanup to comply with Wikipedia's content policies, particularly, Learn how and when to remove this template message, Northwestern University's Kellogg School of Management, "Why Joey Wat decided to take on a challenging job opportunity — that had a high risk of failure", "Joey Wat: Executive Profile & Biography - Bloomberg", "The number of female CEOs in the Fortune 500 hits an all-time record", "Street smart fighter puts smiles back at Superdrug", "Catering to consumers' evolving preferences - Chinadaily.com.cn", "The lessons learned during my restaurant job were some of the most important of my career, says Yum China CEO", "Joey Wat insider trading (SEC form 4) – wallmine.com", "Yum China (YUMC) Says CEO Micky Pant to Transition to Vice Chairman, Joey Wat to Succeed", https://en.wikipedia.org/w/index.php?title=Joey_Wat&oldid=974088354, Wikipedia articles with possible conflicts of interest from December 2018, Articles containing traditional Chinese-language text, Creative Commons Attribution-ShareAlike License, This page was last edited on 21 August 2020, at 01:27. He reports to the Company’s Non-Executive Chairman. She also served as CEO of KFC China, managing director of A.S. Watson Group UK, and spent seven years in management consulting. Learn how your comment data is processed. The 5 Best Breitling Tourbillon Chronograph Watches. Two, there were thousands and thousands of jobs that were going to vanish if Savers continued on its then current course, meaning that she wanted to “do the right thing” by seeing if she could help to save them. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. However, it should also be noted that KFC China hasn’t hesitated to make changes to better-suit Chinese preferences, which is why a Chinese KFC menu can look very different from an American KFC menu. China. Terran-wise, it is mountainous in nature, so much so that there is a classical line about it being eight-parts mountain, one-part water, and one-part farmland. However, it should be mentioned that Yum China was spun off in 2016, meaning that it is independent of its counterpart even though it continues to use the same name. YUM CHINA. This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Wat’s career started out in consulting. Quotes delayed at least 15 minutes. [9][10], She joined A.S. Watson Group UK in 2004, becoming head of strategy for over 10 countries in Europe and managing director of A.S. Watson Group UK. The Advantages of Going to a Tag Heuer Outlet, How Dillon Francis Achieved a Net Worth of $9 Million, How Billy Dee Williams Achieved a Net Worth of $9 Million, How Dolph Lundgren Achieved a Net Worth of $18 Million, How Benny Blanco Achieved a Net Worth of $16 Million. As a result, it is perhaps unsurprising to learn that Wat can sum up her business approach in eight words, which would be, “Good food, good fun, internal beauty, external beauty.”. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. With that said, Wat decided to get involved for a couple of reasons. Joey Wat is the current CEO of Yum China. CNN interview with Yum China CEO Joey Wat Virus forces Fast Food Chain to adapt to “New Normal” February 2020. [5] Wat received her bachelor's degree from Hong Kong University and an MBA from Northwestern University's Kellogg School of Management. All rights reserved. From a single restaurant in 1987, the Company now operates over 10,000 restaurants in over 1,400 cities and towns spanning every province and autonomous region across mainland China. Powered and implemented by Interactive Data Managed Solutions. 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Joey Wat | CEO, Yum! [4], Wat was born in Fujian Province in China and moved to Hong Kong with her family at a young age. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. What Makes A Tag Heuer Watch Face Different From Other Brands? Her first position was with A.T. Kearney, which is a U.S. firm that specializes in helping organizations make improvements to their performance in various respects. Brands announced that it intended to separate into two independent, publicly traded companies by spinning off Yum China ; it took effect 1 November 2016. Moreover, Fujian cuisine has been very influential on overseas Chinese cuisine in Southeast Asia because a considerable portion of the Chinese diaspora there can trace their roots to Fujian province and thus their family cooking to Fujian cuisine. CA Notice at Collection and Privacy Notice, http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. One, she believed that the challenge would make for an excellent learning experience, meaning that she could expect a fair amount of personal growth even if her career took a hit in the process. On October 25, 2015, Yum! Revenues are rising more quickly, up 8% to $8.42 billion in 2018. In part, this is because KFC entered in the Chinese market in the late 1980s, meaning that it had a huge head-start on a lot of its competitors. Innovative Smart Value New Coffee Privilege Membership 38 yuan for 30 days launched in March March 2020. Which Breitling Galactic Model is Right for You? [1][11][12], Wat was ranked as one of the “Top 50 Most Influential Business Leaders in China”[13] and as one of the “Top 25 Most Powerful Women in Business in China” by Fortune Chinese Edition in 2018 and 2017 respectively. Leila Zhang has served as the Chief Technology Officer of Yum China since March 2018. Second, it is interesting to note that Fujian cuisine is one of the most influential regional cuisines in China, which is famous for its preference to retain the original flavor of its main ingredients while striving to bring out an umami flavor. When Wat signed up with Yum China, she started out as the President of KFC China. Based on the name, interested individuals should have no problems predicting some kind of connection between her corporation and Yum! As such, she has pulled off a very rapid climb through the ranks. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell My Info | Ad Choices  Yum China Holdings, Inc. (the “ Company ” or “ Yum China ” ) (NYSE: YUMC and HKEX: 9987) is China’s largest restaurant company with a purpose of making every life taste beautiful. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. Market data provided by Interactive Data. Population-wise, Fujian is considered to be one of the most diverse provinces in China because of successive waves of immigration over the course of centuries, with the result that there are now places where the local dialects become unintelligible by just traveling ten kilometers. Transcript - Coffee Monthly Privilege Membership. However, when Wat signed up, it was facing some serious problems, with examples ranging from falling profits and a tarnished reputation to a very minimal digital presence in a market that was embracing e-commerce with considerable enthusiasm. Moreover, it is very internationalized in nature as well, thus making it a convenient choice for people who want to study abroad but are concerned about the language barriers as well as related issues. 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