Yum Brands, the parent company of the well-known fast-food brand KFC (formerly known as Kentucky Fried Chicken), has announced that it is relocating its corporate headquarters from Louisville, Kentucky to Plano, Texas.
Approximately 100 corporate employees and a number of remote workers will need to relocate, and they will be provided with relocation help.
Yum Brands’ decision to establish two headquarters for its primary brands is a component of a broader plan. Taco Bell and Habit Burger Grill will remain based in Irvine, California, while KFC and Pizza Hut will operate out of Plano.
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Texas has become a popular place for corporate relocations in recent years because of its business-friendly regulations and reduced taxes.
“These changes position us for sustainable growth and will help us better serve our customers, employees, franchisees and shareholders,” stated David Gibbs, CEO of Yum Brands, in the company’s announcement. Yum also expressed optimism that the restructuring will foster greater collaboration among its employees and brands.
The statement clarified that Yum will maintain corporate offices and the KFC Foundation in Louisville.
Kentucky Governor Andy Beshear Disapproves The Move
Kentucky Governor Andy Beshear has voiced his disapproval of the move, stating his disappointment to the Associated Press. “I am disappointed by this decision and believe the company’s founder would be, too,” Mr. Beshear reportedly said. “This company’s name starts with Kentucky, and it has marketed our state’s heritage and culture in the sale of its product.”
KFC’s roots in Kentucky stretch back to the 1930s when Colonel Harland Sanders, the company’s founder, began selling fried chicken at a service station in Corbin. Today, Sanders’ image adorns the storefronts of more than 24,000 KFC restaurants in over 145 countries and territories worldwide.
The trend of US companies relocating their headquarters has accelerated since the pandemic. According to a report by real estate services firm CBRE, Austin and other Texan cities have been particularly successful in attracting businesses due to the state’s business-friendly environment.
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