Yum Brands (YUM) on Tuesday named Chief Financial Officer Chris Turner as its next chief executive. Shares dropped 1.4%, and retail sentiment tracked lower. Turner will take over on October 1, replacing David Gibbs,

Fast food giant Yum! Brands will have a new CEO later this year, when CFO Chris Turner will take over the top job from the retiring David Gibbs.

Yum Brands on Tuesday named its chief financial officer Chris Turner as its chief executive officer, replacing company veteran David Gibbs.