David Wei
Yum China HoldingsAbout David Wei
Independent director of Yum China (YUMC) appointed effective August 6, 2025; deemed independent under NYSE and HKEX rules, with standard director indemnification and no related‑party transactions disclosed at appointment . Founding Partner and Chairman of Vision Knight Capital since 2011; former CEO of Alibaba.com (2007–2011); earlier leadership roles at B&Q China/Kingfisher, Orient Securities, and Coopers & Lybrand; bachelor’s degree in international business management from Shanghai International Studies University . Tenure on YUMC’s board: <1 year as of appointment; term runs until the 2026 annual meeting .
Past Roles
| Organization | Role | Tenure/Years | Committees/Impact |
|---|---|---|---|
| Alibaba.com Limited | Executive Director & CEO | 2007–2011 | Led a leading global e-commerce platform, bringing deep digital/commerce expertise to boards . |
| B&Q (China), Kingfisher PLC | President (2002–2006); CFO (2000–2002); Chief Representative for China Sourcing (2003–2006) | 2000–2006 | P&L leadership and large-scale retail operations; supply chain and sourcing leadership in China . |
| Orient Securities | Head of Investment Banking | 1998–2000 | Capital markets and corporate finance experience . |
| Coopers & Lybrand (PwC) | Corporate Finance Manager | 1995–1998 | Transaction advisory/finance foundation . |
External Roles
| Organization | Role | Public Listing | Status |
|---|---|---|---|
| Vision Knight Capital | Founding Partner & Chairman | Private | 2011–present . |
| PCCW Ltd. | Non-Executive Director | HKEx: 0008 | Current . |
| JNBY Design Limited | Non-Executive Director | HKEx: 3306 | Current . |
| Sansure Biotech Co., Ltd. | Non-Executive Director | SSE: 688289 | Current . |
| Oriental Pearl Group Co., Ltd. | Independent Director | SSE: 600637 | Current . |
| Polestar Automotive Holding UK PLC | Director | NASDAQ: PSNY | June 2022–June 2025 (prior) . |
| Vision Deal HK Acquisition Corp. | Promoter & Executive Chair | HKEx (former listing) | Jan 2022–June 2025 (prior) . |
| Leju Holdings; OneSmart; Zall Smart Commerce | Director (prior) | (various) | Prior board experience detailed in YUMC filings . |
Board Governance
- Independence and term: Board determined David Wei is independent; appointed Aug 6, 2025; term expires at the 2026 annual meeting .
- Board size: Expanded from 12 to 13 upon his appointment .
- Committee assignments: Not disclosed at appointment; no committee roles listed in the most recent proxy (dated April 11, 2025) as appointment occurred after proxy cutoff .
- Attendance baseline: Overall YUMC Board and committee attendance was 99% in 2024; all incumbent directors attended ≥75% (pre-appointment baseline) .
- Board leadership/structure: Independent Chairman (Fred Hu); regular executive sessions; majority voting policy; proxy access .
Fixed Compensation
| Element | Amount/Terms | Notes |
|---|---|---|
| Annual Director Retainer | $315,000 | Payable in Company common stock, or at director’s request up to one‑half in cash; pro‑rated from appointment date . |
| Indemnification | Standard director indemnification agreement | Company’s standard form used for directors . |
| Share Retention Policy | No sales of director compensation shares until ≥12 months after board departure | Applies to all non-employee directors . |
Performance Compensation
YUMC does not grant performance-based compensation to non-employee directors; annual equity is delivered as shares based on the retainer value (no performance metrics). Directors may elect a portion in cash per policy .
| Metric | Weighting | Applies to Directors? | Notes |
|---|---|---|---|
| Performance-based STI/LTI | — | No | Director equity retainers are time-based shares; no PSU/option performance metrics for directors . |
Other Directorships & Interlocks
- Current public company boards: PCCW (telecom), JNBY Design (apparel retail), Sansure Biotech (biotech), Oriental Pearl (media) .
- YUMC policy on outside boards: Directors may serve on no more than four other public company boards; David Wei’s four current external public boards are within policy limits .
- Interlocks/conflicts: YUMC disclosed no Item 404(a) related‑party transactions involving David Wei at appointment; the 2025 proxy reported no related person transactions from Jan 1, 2024 through proxy date .
Expertise & Qualifications
- Domain expertise: Digital and e‑commerce (Alibaba.com CEO), consumer/retail operations (B&Q China), private equity investing (Vision Knight Capital), capital markets/investment banking (Orient Securities), audit/finance grounding (Coopers & Lybrand) .
- Education: Bachelor’s in international business management from Shanghai International Studies University .
- Fit for YUMC: Strong alignment with YUMC’s digital, efficiency, and growth agenda in China; relevant governance and strategy oversight experience across multiple listed companies .
Equity Ownership
| Item | Status/Detail |
|---|---|
| Beneficial ownership at YUMC | Not listed in the 2025 proxy’s stock ownership table (cutoff March 25, 2025); appointed thereafter; holdings to be disclosed in the next proxy . |
| Alignment mechanisms | Equity retainer delivered in Company stock; director share retention policy; prohibition on speculative trading/hedging . |
Governance Assessment
- Strengths: Independent appointment; deep China consumer/digital expertise; equity‑heavy director pay and share retention policy align interests; no related‑party transactions disclosed at appointment; outside board service within YUMC limits .
- Watch items: Committee assignments not yet disclosed; monitor for potential related‑party exposure given private equity leadership (none disclosed to date); ensure ongoing capacity/attendance given four other public boards and YUMC’s active agenda .
- Context: YUMC maintains robust governance (independent Chair, majority voting, proxy access, strong attendance). 2025 Say‑on‑Pay and other proposals received significant shareholder support at the May 23, 2025 AGM (see vote counts) .