Yum! Brands China Named One of Top 10 Best Employers by China Central TV; Yum! Only Restaurant Company to Receive "Company With Most Leadership Charis
March 24, 2008 // Franchising.com // LOUISVILLE, KY. - Yum! Brands China has been named one of the "Top 10 Best Employers in China" by China Central TV (CCTV). In addition, Yum! is the only restaurant company to receive CCTV's "Company with Most Leadership Charisma" award for Yum!'s efforts to positively develop both its workforce and the communities in which its restaurants operate. Yum! Brands China Division is part of Yum! Brands, Inc. (NYSE: YUM), the world's largest restaurant company in terms of system units and the parent to the KFC, Pizza Hut, Taco Bell, Long John Silver's and A&W All-American Food brands.
"Our strategy is to be the leader in every foodservice category in China," said Sam Su, President, Yum! Restaurants China. "We are focused on the tremendous growth opportunity we have with KFC, Pizza Hut and other concepts. We have a major strategic advantage with our team in place in Shanghai, our own distribution system and our development group," added Su.
CCTV's third annual ranking of top companies named Yum! Brands China as one of the overall top 10 best employers in China. In addition, CCTV awarded Yum! with the title, "Company with Most Leadership Charisma," for Yum's efforts to train and develop its workforce, as well as the economic development and positive contributions the Company provides to the 450 cities in which its more than 2,500 KFC and Pizza Hut restaurants operate in China. Yum! Brands is the only restaurant company to receive the award.
"We're honored to be named one of the best employers in China and recognized for developing our employees and giving back to the community," said Christabel Lo, Chief People Officer, Yum! Restaurants China.
Lo added, "The rating reflects the passion and dedication of the Customer Maniacs in our restaurants to provide the best products and service to our customers every day as well as our commitment to develop and train our employees and give back to the communities in which we operate." Yum! Brands has more than 160,000 employees in mainland China. More than 80 percent of the Company's restaurant general managers in China have college degrees or above.
Yum! Brands is focused on building dominant China brands in every major category. Yum!'s China Division (includes mainland China, Thailand and KFC Taiwan), based in Shanghai, has been reported separately since the beginning of 2005 due to its size, unique strength and importance. The China Division operates across 450 cities in mainland China, with 2,140 KFC quick service restaurants, 351 Pizza Hut casual dining restaurants, and 53 Pizza Hut Home Service units. It also has created and is testing East Dawning, a quick service restaurant concept serving Chinese food. The Company outpaces its nearest competitor by more than 1,000 restaurants in China, and is outpacing their development by a roughly 3:1 pace. In 2007, the Company's China Division added a record 471 new-restaurant openings and delivered 30 percent operating profit growth. Recent Chinese government studies indicate the middle class in mainland China is over 250 million people, with an economy growing in the low double-digits, creating significant long-term demand for the Company's brands and rapid new-unit development.
Yum! Brands, Inc.
Yum! Brands Inc., based in Louisville, Kentucky, is the world's largest restaurant company in terms of system restaurants with more than 35,000 restaurants, which includes over 2,000 licensed restaurants, in more than 110 countries and territories. Four of the company's restaurant brands -- KFC, Pizza Hut, Taco Bell and Long John Silver's -- are the global leaders of the chicken, pizza, Mexican-style food and quick-service seafood categories respectively. Yum! Brands is the worldwide leader in multibranding, which offers consumers more choice and convenience at one restaurant location from a combination of KFC, Taco Bell, Pizza Hut, A&W or Long John Silver's brands. The company and its franchisees today operate over 3,900 multibrand restaurants. Outside the United States in 2007, the Yum! Brands' system opened about three new restaurants each day of the year, making it one of the fastest growing retailers in the world. For the past four years, the company has been recognized as one of Fortune Magazine's "Top 50 Employers for Minorities." It also has been recognized as one of the "Top 50 Employers for Women" by Fortune, one of the "40 Best Companies for Diversity" by Black Enterprise Magazine for the past three years, one of Black Enterprise Magazine's "30 Hottest Franchises for 2006," one of the "Corporate 100 Companies Providing Opportunities for Hispanics" by Hispanic Magazine, one of the "Top 50 Corporations for Supplier Diversity" by Hispanic Trends Magazine and by BusinessWeek as one of the "Top 15 Companies for In-Kind Corporate Philanthropy."