The Amgen board has appointed former Yum! Brands CEO David W. Gibbs as a director, effective immediately. The appointment, announced on October 27, 2026, expands the board to 13 members, 12 of whom are independent.

Key Takeaways

  • Gibbs will join Amgen’s audit and compensation committees.
  • He led Yum! Brands from 2020 through September 2025.
  • His director compensation includes prorated cash retainers and a planned restricted stock unit grant.

Amgen board roles and compensation

Gibbs will serve on the board’s Audit Committee and its Compensation and Management Development Committee.

He is entitled to standard non-employee director compensation, including prorated portions of the $115,000 annual cash retainer and $12,500 in committee member meeting retainers through December 31, 2026. He is also eligible for reimbursement of expenses related to board and committee meetings and conferences with senior management.

Under Amgen’s director equity incentive program, Gibbs will receive 7/12 of an annual grant of fully vested restricted stock units. The annual grant has a grant-date fair value of $220,000; his prorated grant is scheduled for two business days after Amgen releases its third-quarter 2026 earnings.

Gibbs brings restaurant and board experience

Gibbs was CEO of Yum! Brands from 2020 through September 2025 and served on its board from 2019 to September 2025. He has advised the restaurant company since October 2025. Earlier roles included chief operating officer, chief financial officer and CEO of its Pizza Hut division.

He has served on Under Armour’s board since 2021 and chairs its Human Capital and Compensation Committee. He has also served on PepsiCo’s board since 2026 and sits on its Audit Committee.

Amgen said there were no transactions involving Gibbs or his immediate family and the company or its subsidiaries that required disclosure under Item 404(a) of Regulation S-K. It also said there was no arrangement or understanding with another person or entity under which he was appointed.

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