(Reuters) - Yum Brands Inc
Creed, 56, is a 20-year veteran of Yum and is currently CEO of the Taco Bell chain. Yum also owns the Pizza Hut and KFC chains.
Novak, 61, will take on the role of Executive Chairman on January 1, and is forming the Office of the Chairman, which will include Creed.
(Reporting by Phil Wahba in New York)