Yum! promotes CFO to president

NEW YORK (AP) -- Yum Brands, the owner of Taco Bell, Pizza Hut and KFC, named Chief Financial Officer Rick Carucci as its president Tuesday.

The 54-year-old Carucci, who had served as CFO since 2005, will now oversee Taco Bell, KFC and Pizza Hut in the United States, Yum Restaurants International, and corporate finance, the company said.

Yum credited Carucci, who was also head of development of its international division, for increasing the company's presence abroad, particularly in emerging markets.

The Louisville, Ky., company said that Chief Planning and Control Officer Patrick Grismer, 50, will succeed Carucci as CFO.

Shares of Yum Brands Inc. rose $1.39 to $74.12 in afternoon trading.