Yum! Brands Recognized by BLACK ENTERPRISE'S "40 Best Companies for Diversity" List for Seventh Consecutive 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 and Taco Bell, has been named one of BLACK ENTERPRISE magazine's "40 Best Companies for Diversity" for its comprehensive results across key diversity measures for the seventh consecutive year.
BLACK ENTERPRISE magazine's seventh annual list of the best companies for diversity is featured in the July 2011 edition. The Magazine evaluated diversity programs, consulted with diversity experts and surveyed the top 1,000 of the country's largest public companies and 100 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 employee base. BLACK ENTERPRISE reported that total employee base and Board of Directors are two areas in which Yum! Brands is particularly strong.
"We are proud of this distinction and the progress we have made creating a diverse and inclusive culture," said David Novak, Chairman and CEO, Yum! Brands, Inc. "This recognition only motivates us to work even harder to create a Famous Recognition Culture Where Everyone Counts and become The Defining Global Company That Feeds 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, Women Business Enterprise National Council, U.S. Pan Asian American Chamber of Commerce and is a founding member of the International Franchise Association's Diversity Institute.
Yum!'s diversity strategy also includes employment, leadership development and community involvement. More than 25 percent of the Company's annual corporate giving goes to support predominantly minority communities. Each year, Yum! partners with its multicultural customers through high-impact programs like: National Black College Expo, KFC Pride 360°, the LULAC and Organization of Chinese Americans (OCA) National Young Professional and Youth and College Programs, lead sponsorship of the National NAACP Youth and College Division, creation of the Poder Magazine Hispana Leadership Summit, and a strategic partnership with National Urban League's Young Professionals, among others.
Many of Yum! Brands' philanthropic efforts are focused on minority community giving and employee volunteerism. Since 2003, the Yum! Brands Foundation has donated over $1 million to the Louisville–based Muhammad Ali Center, an international cultural and educational institution, for the advancement of humanity worldwide. In addition, the Company has donated $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 are also focused on hunger relief efforts around the globe. Since its launch over a decade ago, the Company's Harvest program in the U.S. has become the largest prepared-food donation program in the world. Through Harvest in 2010, the Company donated nearly 11 million pounds of wholesome food, with a fair market value of $60 million, to needy families and children. Since creation of the program, Yum! has donated over 136 million pounds of food, with a value of nearly $600 million, to those at risk of hunger in the U.S. The Company also has been the primary sponsor of the Dare to Care Food Bank in Louisville for nine years, and has donated nearly $8 million to this local agency.
In 2007, Yum! and its brands launched World Hunger Relief, the world's largest private sector hunger relief effort to raise awareness, volunteerism and funds to benefit the United Nations World Food Programme (WFP) and other hunger relief agencies. To date, this effort has raised nearly $85 million for WFP and other hunger relief agencies and is helping to provide over 350 million meals, saving the lives of millions of people in remote corners of the world where hunger is most prevalent.
As an extension of its World Hunger Relief efforts, Yum! partnered with the Muhammad Ali Center and National Gardening Association to globally launch the Muhammad Ali Center Peace Garden program in 2010. The Muhammad Ali Center Peace Garden initiative aims to teach children in Title 1 schools multicultural respect, nutrition and hunger relief by growing plants from various countries. The Foundation is providing educational tools and materials including a free, downloadable curriculum guide translated into six languages and $100,000 in grants to build multicultural gardens around the world over the next four years. In its inaugural year, the program has built approximately sixty gardens for schools and community organizations.
Yum! Brands, Inc., based in Louisville, Ky., is the world's largest restaurant company in terms of system restaurants with approximately 38,000 restaurants in more than 110 countries and territories. The company is ranked #214 on the Fortune 500 List, with revenues of more than $11 billion in 2010. Four of the company's restaurant brands – KFC, Pizza Hut, Long John Silver's and Taco Bell – are the global leaders of the chicken, quick–service seafood, pizza and Mexican–style food categories. A&W Restaurants is the longest running quick–service franchise chain in America. Outside the United States, the Yum! Brands system opened approximately four new restaurants each day of the year, making it a leader in international retail development. The Company has consistently been recognized for its reward and recognition culture, diversity leadership, community giving, and consistent shareholder returns.