Amway appoints Yum executive Milind Pant as first global CEO

Direct selling major Amway on Friday announced appointment of Milind Pant, first Indian and non-family individual, as its Chief Executive Officer (CEO) with effect from January 2, 2019.

Amway has been co-led by Steve Van Andel who has served as Amway Chairman since 1995 and Doug DeVos who has served as Amway's President since 2002.

"This is a new position for Amway, a business that has been family run since its beginning in 1959.

Pant joins Amway from Yum! Brands where he was recently president of Pizza Hut International. He will report directly to Amway's board of directors and will also hold a seat on the board on effective January 2, 2019, the company said in a statement.

Steve Van Andel and Doug DeVos will move to Amway's Board of Directors where they will serve as co-chairs.

Amway, a business started by Jay Van Andel and Rich DeVos, will continue to be family-owned and family-led," the company.

The overall management and leadership of the business will be assumed by Pant.

Prior to joining Yum! Brands, Pant spent 14 years with Unilever in a variety of executive roles, including Vice President of Foods for Africa, the Middle East, and Turkey.