Aaron Powell is stepping down as CEO of Pizza Hut as the global pizza chain prepares to complete its separation from Yum! Brands and transition to new ownership under private equity firm LongRange Capital.
Powell, who has led Pizza Hut since August 2021, announced his departure on LinkedIn. He said LongRange offered him a continuing role following the transaction, but he declined and will instead “begin his next chapter.”
The leadership change comes at a defining point for the brand. In June, Yum! Brands agreed to sell Pizza Hut for $2.7 billion across two transactions. LongRange Capital is acquiring Pizza Hut outside Mainland China for approximately $1.5 billion, while Yum China is acquiring the Mainland China business for approximately $1.2 billion. Yum expects both transactions to close in the third quarter of 2026.
The China transaction has already closed, according to NRN, leaving the LongRange acquisition as the remaining step in the separation. Once the transactions are completed, Yum! Brands will no longer report Pizza Hut as a division.
Powell’s tenure has coincided with a significant push to rebuild the brand while expanding its international presence. In his departure message, he pointed to what he described as historic unit growth, strong international growth and positive transaction growth in the U.S. He also highlighted a renewed focus on Pizza Hut’s heritage.
His responsibilities expanded in March 2024 when he also assumed leadership of Pizza Hut U.S. following the departure of President David Graves, who moved to the same role at Arby’s. Powell therefore leaves after overseeing both the global business and its strategically important U.S. operation.
Powell brought a consumer and international perspective to the role. Before joining Pizza Hut, he spent 14 years at Kimberly-Clark, most recently as president of its Asia-Pacific consumer business. Earlier in his career, he worked at Bain & Company and Procter & Gamble.
His departure also closes a chapter that began when Yum launched a formal strategic review of Pizza Hut in November 2025. At the time, Yum said it was evaluating a potential sale or other divestiture options as Pizza Hut continued to face sales and market-share pressure, particularly in the U.S. The stated objective was to allow the business to reach its “full potential” for franchisees, consumers and employees while maximizing value for Yum shareholders.
