Dive Brief:
- Sean Tresvant will replace Mark King, who is retiring, as Taco Bell CEO on Jan. 1, 2024, according to a press release issued by Yum Brands on Thursday.
- Tresvant joined Taco Bell as global chief brand officer in 2022, before being promoted to global chief brand and strategy officer earlier this year. Prior to that, he worked in a variety of roles at Nike, including a period as chief marketing officer for the Jordan brand.
- Tresvant’s ascension comes at a moment of significant CEO turnover at major restaurant companies.
Dive Insight:
As Taco Bell CEO, Tresvant will report to Yum Brands CEO David Gibbs and have “global responsibility for driving Taco Bell’s growth strategies, franchise operations and overall performance,” according to the press release. In the global chief brand and strategy officer roles, Tresvant has already been responsible for Taco Bell’s international business, as well as strategy, food innovation, architecture, design and communications.
“[Tresvant] is driving transformative R.E.D. (relevant, easy, distinctive) sales-powering efforts, from omni-channel initiatives to digital customer touchpoints, to accelerate growth and further elevate and differentiate the Taco Bell fan and team member experience," Gibbs said.
That digital acceleration has extended to delivery partnerships. In November, Taco Bell began offering delivery through its loyalty app in a partnership with DoorDash’s white label delivery fulfillment option.
Additionally, menu innovation and strong marketing in recent quarters helped drive Taco Bell’s success. In four months in 2022, Taco Bell sold 45 million Mexican pizzas, and the LTO helped drive the brand’s U.S. same-store sales up 11% compared to 2021. This week, the chain embraced nostalgic marketing and a menu update LTO, bringing back its Volcano Menu from the early 2000s in conjunction with a campaign headed by Paris Hilton. In April, the brand partnered with comedian Pete Davidson on a campaign to promote its breakfast daypart offerings. According to the press release, Tresvant was responsible for the strategy behind the menu innovation and celebrity partnership combinations.
Tresvant will be the second consecutive Taco Bell CEO with a background in sporting goods. King joined Yum in 2019 from Adidas, and spent nearly four years as Taco Bell CEO. On King’s watch, Taco Bell has seen considerable growth of its digital sales and same-store sales, according to the press release.
