David Hoffmann
Yum China HoldingsAbout David Hoffmann
Independent director of Yum China Holdings, Inc. (YUMC); age 57; director since July 2023. Chairman and Chief Executive Officer of Mammoth Holdings (Dallas-based conveyor car wash operator). Former CEO of Dunkin’ Brands (2018–2020) and President, Dunkin’ U.S. (2016–2018), with 20 years at McDonald’s in senior international roles; MBA from University of Chicago (1996). Brings global QSR leadership, operations expertise, and deep China/Asia experience .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Dunkin’ Brands | Director and Chief Executive Officer | 2018–2020 | Led corporate strategy and operations as public company CEO |
| Dunkin’ U.S. | President | 2016–2018 | U.S. brand leadership and growth execution |
| McDonald’s Corporation | Senior international executive roles incl. President of High Growth Markets; President APMEA; EVP McDonald’s Japan | ~1996–2016 (20 years) | Oversaw Asia Pacific/Middle East/Africa strategy, operations, development |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Mammoth Holdings | Chairman & CEO | Oct 2021–present | Private company; no YUMC-related transactions disclosed |
Board Governance
- Committee assignments: Audit Committee member; designated Audit Committee Financial Expert by Board; Audit met 11 times in 2024 .
- Independence: Board affirmed Hoffmann is independent under NYSE and HKEX rules; 10 of 12 nominees independent; independent Chairman structure .
- Attendance: Board met 7 times; committees met 27 times in 2024; overall director attendance was 99%; all incumbent directors attended ≥75%; all directors attended the 2024 annual meeting .
- Governance practices: Executive sessions of independent directors; majority voting policy; limits on other board service; conflict-of-interest disclosure policy .
- Related-party transactions: None for period Jan 1, 2024 through proxy date; Audit Committee oversees and approves any related person transactions ≥$120,000 .
- Trading policies: Directors prohibited from hedging/shorting and pledging company stock .
Fixed Compensation
| Component | Amount (USD) | Form | Timing/Notes |
|---|---|---|---|
| Annual director retainer | $315,000 | Equity (stock retainer) | Compensates Board service June 1, 2024–May 31, 2025 (unless noted) |
| Audit Committee member retainer | $17,500 | Equity | 2024 committee member stock retainer |
| 2024 total director comp (Hoffmann) | $332,500 | Stock awards | Hoffmann elected equity-only; no cash fees |
- Chairman and chair retainers do not apply to Hoffmann (not a chair) .
- Director share retention policy: directors should not sell shares received as compensation until at least 12 months after leaving the Board .
Performance Compensation
- YUMC does not use performance-based incentives (e.g., PSUs/options tied to metrics) for non-employee directors; compensation is primarily stock-based retainers without performance metrics .
| Performance Metric | Weight/Target | Applies to Director Pay? |
|---|---|---|
| rTSR, Operating Profit, SSS Growth, Net New Builds, ROIC, ESG | Used for executives’ STI/LTI programs | No (directors) |
Other Directorships & Interlocks
| Entity | Type | Role | Potential Interlock / Conflict |
|---|---|---|---|
| None disclosed | Public company | — | No interlocks disclosed with YUMC competitors/suppliers/customers |
Expertise & Qualifications
- Skills matrix: Executive Leadership; Industry experience; Regional China/APAC expertise; Public company board experience (as prior CEO/director) .
- Audit Committee Financial Expert designation supports financial oversight quality .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding |
|---|---|---|
| David Hoffmann | 14,888 | <1% (*) |
- Company-wide director/executive ownership policies emphasize equity holding; directors compensated largely in stock; hedging and pledging prohibited .
Governance Assessment
- Board effectiveness and alignment: Independent director with deep QSR and China/APAC operating experience; serves on Audit Committee and recognized as financial expert, strengthening oversight of controls, risk, and cybersecurity .
- Alignment signals: 100% of 2024 director fees taken in stock ($332,500), plus director share-retention policy—positive for ownership alignment .
- Independence and conflicts: Board affirmed independence; no related-party transactions involving Hoffmann; strict trading/hedging policies reduce misalignment risk .
- Engagement backdrop: Strong board/committee attendance (99% overall 2024) and independent chair structure support investor confidence; 2024 Say-on-Pay approval ~93% indicates constructive shareholder relations (executive pay context) .
RED FLAGS: None disclosed specific to Hoffmann. No related-party transactions, no hedging/pledging, and no attendance issues reported .