LOUISVILLE, KY, June 18, 2004 – For the second consecutive year, Yum! Brands, Inc., has been named one of FORTUNE magazine’s “50 Best Companies for Minorities” for its comprehensive results across key diversity measures. This year, Yum! jumped 20 spots to place 15th out of 50 on the list.
The survey, which appears in FORTUNE’s June 28 issue, measures minority representation throughout the organization including Board of Directors and top 50 paid executives, purchasing from minority firms, diversity training, recruitment and retention, and charitable contributions to minority organizations.
Yum! Brands, parent company of A&W All American Food, KFC, Long John Silver’s, Pizza Hut and Taco Bell, tops the list for managerial diversity and is also ranked among the top ten companies having the highest percentage of African-American and Native American employees. Fifty-four percent of the company’s U.S. workforce are minorities as well as 52 percent of the company’s recent hires. Additionally, nearly 27 percent of the company’s workforce is Hispanic.
“Yum! Brand’s commitment to diversity helps drive all aspects of our business,” said David C. Novak, Chairman, CEO and President, Yum! Brands, Inc. “Minority and women leaders play a vital role in our success.” The company’s formula for success puts people capability first because satisfied customers and profitability follow.
“It’s important that our global culture actively develop a workforce with a broad mix of backgrounds and viewpoints at all levels of management,” said Novak. “Building on our diverse foundation at all of our brands gives us a competitive edge and helps drive Customer Mania.”
FORTUNE highlights David Novak’s commitment to managerial diversity and efforts to increase the company’s number of minority executives. Forty-three percent of Yum! Brands’ minority employees are managers, including two of its senior-most leaders, Aylwin Lewis, Yum! Brands President, Chief Multibranding and Operating Officer, and Steve Davis, President and Chief Executive Officer of Long John Silver’s, Inc. and Chief Executive Officer of A&W Restaurants, Inc.
Yum!’s diversity strategy includes employment, leadership development, purchasing and community involvement. The company and its franchise partners support leading community organizations such as the Congressional Black Caucus; NAACP; National Urban League; National Council of LaRaza; U.S. Pan Asian Chamber of Commerce and MultiCultural Foodservice & Hospitality Alliance.
Many of Yum! Brands’ philanthropy efforts are focused on minority community giving and employee volunteer involvement through programs such as Louisville-based Dare to Care Food Bank. Yum! Brands Foundation makes a $1 million annual commitment to the organization, two-thirds of which helps reach an additional 90,000 hungry children in underserved minority communities. In addition, Yum! Brands Foundation has committed a half-million dollars to the Louisville-based Muhammad Ali Center for the Advancement of Humanity Worldwide, an international cultural and educational institution that will open in 2005.
Yum! Brands Inc., based in Louisville, Kentucky, is the world’s largest restaurant company in terms of system restaurants with more than 33,000 restaurants in more than 100 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 2,200 multibrand restaurants. Outside the United States in 2003, 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. In 2002, the company changed its name to Yum! Brands Inc. from Tricon Global Restaurants Inc. to reflect its expanding portfolio of brands and its ticker symbol on the New York Stock Exchange. For the past two years, the company has been recognized in FORTUNE magazine’s top 50 “Best Companies for Minorities,” claiming the number-one spot for “managerial diversity.”