Pizza Hut CEO Aaron Powell Steps Down as $1.5 Billion LongRange Capital Sale Nears Close
Pizza Hut global CEO Aaron Powell has announced his departure as the chain's $1.5 billion transfer to LongRange Capital approaches completion, part of Yum! Brands' $2.7 billion divestiture.
Pizza Hut is entering private equity ownership without the executive who led it through its sale. Aaron Powell, the brand's global CEO since August 2021, announced his departure as the chain's transfer to LongRange Capital approaches its final steps.
The deal assigns Pizza Hut's non-China operations to the private equity firm for $1.5 billion, part of a broader $2.7 billion divestiture by Yum! Brands. The Yum China portion of the transaction closed in August 2026.
Deal Overview
| Item | Detail |
|---|---|
| Brand | Pizza Hut (15,500+ restaurants, 108 countries) |
| Non-China sale | $1.5 billion to LongRange Capital |
| Total divestiture | $2.7 billion (Yum! Brands) |
| System-wide sales | ~$10 billion annually |
Powell joined Pizza Hut as global CEO in August 2021 after more than a decade at Kimberly-Clark's Asia-Pacific division and earlier roles at Bain & Company and Procter & Gamble. He disclosed his decision in a LinkedIn post, noting LongRange Capital had offered him a position within the reorganised company, which he declined.
Yum! Brands launched a formal strategic review of the chain in November 2024, citing sustained pressure on domestic sales and market share.
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