Board of Directors

Fred Hu|
Chairman

Dr. Fred Hu has served as our independent Director and Chairman of the Board since November 2016. He has also served as the chairman and founder of Primavera, a Chinabased global investment firm, since its inception in 2011. Prior to Primavera, Dr. Hu served in various roles at Goldman Sachs from 1997 to 2010, including as partner and chairman of Greater China at Goldman Sachs Group, Inc. From 1991 to 1996, he served as an economist at the International Monetary Fund (IMF) in Washington D.C. Dr. Hu currently is a member of the board of directors of Hong Kong Exchanges and Clearing Limited, a company listed on the Hong Kong Stock Exchange (stock code: 0388), Industrial and Commercial Bank of China Limited, a company listed on the Hong Kong Stock Exchange (stock code: 1398) and the Shanghai Stock Exchange (SHA: 601398), and UBS Group AG, a company listed on both the SIX Swiss Stock Exchange (SIX: UBSG) and the New York Stock Exchange (NYSE: UBS). From May 2011 to May 2018, Dr. Hu served as an independent non-executive director of Hang Seng Bank Limited, a company listed on the Hong Kong Stock Exchange (stock code: 0011). Dr. Hu also serves as a co-director of the National Center for Economic Research and a professor at Tsinghua University. Dr. Hu obtained his doctoral degree in economics from Harvard University. Dr. Hu brings to our Board extensive expertise in international affairs and the Chinese economy. In addition, Dr. Hu brings valuable business, strategic development and corporate leadership experience as well as expertise in economics, finance and global capital markets.

Joey Wat|
Director and Chief Executive Officer

Ms. Joey Wat has served as our Director since July 2017 and as the Chief Executive Officer of our Company since March 2018. She served as our President and Chief Operating Officer from February 2017 to February 2018 and the Chief Executive Officer, KFC from October 2016 to February 2017, a position she held at Yum! Restaurants China, from August 2015 to October 2016. Ms. Wat joined Yum! Restaurants China in September 2014 as President of KFC China and was promoted to Chief Executive Officer for KFC China in August 2015. Before joining YUM, Ms. Wat served in both management and strategy positions at A.S. Watson Group (“Watson”), an international health, beauty and lifestyle retailer, in the U.K. from 2004 to 2014. Her last position at Watson was managing director of Watson Health & Beauty U.K., which operates Superdrug and Savers, two retail chains specializing in the sale of pharmacy and health and beauty products, from 2012 to 2014. She made the transition from head of strategy of Watson in Europe to managing director of Savers in 2007. Before joining Watson, Ms. Wat spent seven years in management consulting including with McKinsey & Company’s Hong Kong office from 2000 to 2003. Ms. Wat obtained a master of management degree from Kellogg School of Management at Northwestern University in 2000. Ms. Wat brings to our Board extensive knowledge of the Company’s business and her industry acumen acquired in the course of a career that included several leadership roles in retail companies.

Christian L. Campbell|
Director

Mr. Christian L. Campbell has served as our Director since October 2016 and became an independent Director in March 2019. He owns Christian L. Campbell Consulting LLC, which specializes in global corporate governance and compliance, and has served as its owner since February 2016. Mr. Campbell previously served as Senior Vice President, General Counsel and Secretary of YUM from its formation in 1997 until his retirement in February 2016. In 2001, Mr. Campbell’s role was expanded to include Chief Franchise Policy Officer. In these positions, Mr. Campbell oversaw all legal matters at YUM and was responsible for the oversight of YUM purchasing as a director of YUM’s purchasing cooperative with its franchisees. Prior to joining YUM, Mr. Campbell was a senior vice president and general counsel at Owens Corning, an NYSE-listed leading global producer of fiberglass insulation and composite building materials (NYSE: OC). Prior to Owens Corning, he was vice president and general counsel for Nalco Chemical Company, formerly an NYSE-listed company. In addition, Mr. Campbell was a founding director of Restaurant Supply Chain Solutions, LLC. (“RSCS”), a purchasing cooperative for YUM’s U.S. franchising partners, and he served on RSCS’s board of directors from its formation in 2000 until 2015. Mr. Campbell obtained his juris doctor degree from Harvard University in 1975. Mr. Campbell brings to our Board expertise in corporate governance and corporate compliance of publicly traded companies. In addition, Mr. Campbell brings to our Board extensive knowledge of the QSR industry, global franchising and corporate leadership.

Ed Yiu-Cheong Chan|
Director

Mr. Ed Yiu-Cheong Chan has served as our independent Director since October 2016. Mr. Chan currently serves as a partner of Gaorong Capital where he previously served as a venture partner for its China portfolio from May 2018 to June 2019. He is also a non-executive director of Treasury Wine Estates Limited, a company listed on the Australian Securities Exchange (ASX: TWE), and an independent non-executive director of Link Real Estate Investment Trust, which is listed on the Hong Kong Stock Exchange (stock code: 0823). He served as the operating partner for SoftBank Investment Advisers, a global advisory firm, from June 2019 to June 2020. He also served as the advisor to Food Union China, a European based dairy company, from April 2018 to June 2019. From 2012 to February 2018, Mr. Chan served as vice chairman of Charoen Pokphand Group Company Limited and as executive director and vice chairman of C.P. Lotus Corporation. He served as the president and chief executive officer of Walmart China from November 2006 to October 2011. Prior to that, he was the regional director of North Asia of the Dairy Farm Group and a director of Dairy Farm Management Services Limited from November 2001 to November 2006. Mr. Chan obtained a master’s degree in management from the Sloan School of Management, Massachusetts Institute of Technology in 1989. He brings to our Board knowledge of the food and beverage industry in Asia and extensive public company board and corporate governance experience.