Yum! Brands Recognized in Black Enterprise's "40 Best Companies for Diversity" for Fifth Consective Year
Diversity Drives Culture and Business at World's Largest Restaurant Company
Louisville, Ky.--(BUSINESS WIRE)--Yum! Brands, Inc. (NYSE: YUM), the world's largest restaurant company and parent of KFC, Pizza Hut, Taco Bell, Long John Silver's and A&W Restaurants, has been named one of BLACK ENTERPRISE magazine's "40 Best Companies for Diversity" for its comprehensive results across key diversity measures for the fifth consecutive year.
BLACK ENTERPRISE's fifth annual list of the best companies for diversity is featured in the July 2009 edition. The Magazine evaluated diversity programs, consulted with diversity experts and surveyed over 1,000 of the country's largest public companies and more than 50 leading global companies with significant U.S. operations. The Magazine made its selection based on the number of African-Americans and members of other ethnic minority groups in four categories including supplier diversity, senior management, Board of Directors and total workforce diversity. BLACK ENTERPRISE reported that supplier diversity and total workforce diversity are two areas in which Yum! Brands is particularly strong.
"We are continually focused on fostering an inclusive, diverse workplace culture and actively seek diversity in others to expand our thinking and make the best decisions," said David Novak, Chairman and CEO, Yum! Brands, Inc. "We are very proud of BLACK ENTERPRISE's recognition and it fuels our passion to continue to develop current and future business leaders, franchisees and suppliers that reflect the changing demographics of our customers around the world."
For the past several years, Yum! Brands has been recognized for its commitment to diversity and inclusion. More than 50 percent of Yum!'s U.S. workforce are minorities as well as more than 50 percent of the company's new hires. In addition, the company has been named one of FORTUNE magazine's "Top 50 Employers for Minorities," one of FORTUNE's "Top 50 Employers for Women," one of BLACK ENTERPRISE'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 Enterprise Magazine, one of the "100 Best Corporate Citizens" by Corporate Responsibility Officer magazine and by BusinessWeek as one of the "Top 15 Companies for In-Kind Corporate Philanthropy."
Yum!'s strategy for leveraging diversity includes franchising and supplier diversity. Yum! supports minority entrepreneurship through its sponsorship of the National Minority Supplier Development Council and is a founding member of the International Franchise Association's Diversity Institute.
In addition to franchising and supplier diversity, Yum!'s diversity strategy includes employment, leadership development and community involvement. More than 25 percent of Yum!'s annual corporate giving goes to support predominantly minority communities. Each year Yum! partners with our multicultural customers through high impact programs like: College Black Expos, KFC Pride 360°, the LULAC and Organization of Chinese Americans (OCA) National Youth and College Programs, the American Indian College Scholarship Fund, lead sponsorship of the National NAACP Youth and College Division, creation of the Hispanic Magazine Hispana Leadership Summit, and a strategic partnership with National Urban League's Young Professionals and Urban Influence Magazine, among others.
Many of Yum! Brands' philanthropic efforts are focused on minority community giving and employee volunteerism. The Yum! Brands Foundation has committed approximately $1 million to the Louisville-based Muhammad Ali Center, an international cultural and educational institution, for the advancement of humanity worldwide and $250,000 for the creation of the Children's Educational Center as part of the Kentucky Center for African-American Heritage.
Yum! and its brands also have been committed to fighting hunger for more than a decade by donating $50 million of prepared food annually to the underprivileged in the United States. The company has been the primary sponsor of the Dare to Care Food Bank in Louisville, Kentucky, donating $1 million annually for the past eight years to feed 90,000 hungry children in underserved minority communities. In addition, for the second year Yum! Brands launched the world's largest private sector hunger relief effort, in partnership with the United Nations World Food Programme and other hunger relief agencies. To date this effort has raised $36 million for the World Food Programme and other hunger relief organizations and is helping to save approximately 4 million people in remote corners of the world, where hunger is most prevalent.
Yum! Brands, Inc., based in Louisville, Kentucky, is the world's largest restaurant company in terms of system restaurants, with more than 36,000 restaurants in more than 110 countries and territories. The company is ranked #239 on the Fortune 500 List, with revenues in excess of $11 billion in 2008. 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. The company has consistently been recognized for its reward and recognition culture, diversity leadership, community giving, and consistent shareholder returns.