The move follows after Taco Bell CEO Brian Niccol stepped down from his role to assume the role of CEO at American casual dining chain Chipotle Mexican Grill.
Masino and Williams will report to Yum! Brands’ chief executive officer Greg Creed.
Creed said: “I want to thank Brian for his leadership and focus on always keeping Taco Bell culturally relevant, innovative and accessible for customers.
“As Brian moves on to another opportunity, we’re grateful he has built a world-class leadership team. I’m confident that Julie, an accomplished brand builder and restaurant industry executive, and Liz, a strong brand veteran, are well positioned to ensure a seamless transition and will continue to elevate Taco Bell into a distinctive, relevant and easy brand.
“As we look ahead, I couldn’t be more excited about the strength of Taco Bell as the brand continues its journey to become a $15bn company with 9,000 restaurants globally by 2022.”
In her new role, Masino will be responsible to ensure the brand delivers same-store sales growth, new store development and a frictionless customer experience through digital and technology initiatives.
She joins Taco Bell from Mattel and has experience in the restaurant industry including Starbucks and Sprinkles Cupcakes.
Williams served as Taco Bell CFO and prior to this, she worked at The Boston Consulting Group (BCG) as principal in the Consumer and Retail practices in US and Asian markets as well as at Dell Computer.
Taco Bell, a subsidiary of Yum! Brands, has nearly 7,000 restaurants globally, including more than 400 restaurants outside the US.