Aaron Powell, who has led Pizza Hut since August 2021, announced that he will leave the CEO role when the sale to private-equity firm LongRange Capital closes at the end of August. Powell said LongRange offered him a continuing role, but he decided that the completion of the transaction was the right time to depart.
“LongRange offered me a continuing role, and I decided that at close was the right moment,” Powell said in a LinkedIn post. “I’ve always believed in leaving things better than you found them and this business is in a better state.”
Powell said he was proud of the progress made during his tenure, highlighting the creation of “one global Pizza Hut,” historic unit growth, strong international growth and improving transaction trends in the U.S. business. He also thanked Pizza Hut’s employees, franchisees and partners around the world and said he was looking forward to seeing the brand’s next phase.
Powell has not disclosed his next move, and Pizza Hut has not announced a successor. He said he would “begin my next chapter” following the transaction.
His departure comes as Yum! Brands completes the separation of Pizza Hut from its portfolio. In June, Yum! announced definitive agreements to sell Pizza Hut in two transactions worth approximately $2.7 billion. LongRange Capital is acquiring Pizza Hut’s business outside Mainland China for approximately $1.5 billion, while Yum China Holdings is acquiring the Mainland China business for approximately $1.2 billion.
The Yum China transaction for Pizza Hut China has already closed, while the LongRange Capital acquisition remains on track to close this month. Once completed, Yum! Brands will no longer report Pizza Hut as one of its divisions.
The sale followed a strategic review of Pizza Hut launched by Yum! in November 2025. The review came after several quarters of same-store sales declines and significant market-share pressure, particularly in the U.S. market. Yum! had said the process was intended to help Pizza Hut reach its full potential for franchisees, consumers and employees while maximizing value for Yum! shareholders.
For LongRange Capital, the acquisition brings control of a large international franchise network. The firm has described Pizza Hut as a global restaurant brand with more than 15,500 restaurants across 108 countries and approximately $10 billion in annual system sales. LongRange has said it plans to work with Pizza Hut’s management team and franchise partners to drive the brand’s next phase of growth through investments focused on food and customer experience.
Yum! will continue providing its Byte by Yum! technology platform to Pizza Hut outside China, along with certain corporate services under a transition-services agreement designed to support the separation.
Powell joined Pizza Hut after spending 14 years at Kimberly-Clark, where he most recently served as president of its Asia-Pacific consumer business. Before Kimberly-Clark, he worked at Bain & Company and Procter & Gamble. In March 2024, he also took responsibility for Pizza Hut’s U.S. business following the departure of then-U.S. president David Graves.
Reflecting on his departure, Powell said Pizza Hut’s progress was achieved by “doing things right” and “leaning back into our heritage.” He added that his time with the brand would remain special and that he was eager to see what Pizza Hut achieves under its new ownership.
The leadership change means LongRange Capital will take control of Pizza Hut’s global business outside Mainland China at a pivotal moment for the brand, with a new CEO expected to lead the franchise system into its next phase of growth.
