LOUISVILLE, KY, December 9, 2008 – Yum! Brands, Inc. (NYSE:YUM) the world’s largest restaurant company and parent of Taco Bell, Pizza Hut, KFC, today released its first Corporate Responsibility Report titled: ‘Serving the World.’ The printed version of this document, in limited quantity, is on 100% recycled paper, using vegetable oil ink so that it is a renewable resource. The Report also can be accessed on www.yum.com/responsibility/ and a PDF version can be downloaded.
The Report examines Yum! Brands’ social, environmental and economic impact based on company and external stakeholder expectations, with focus on: Corporate Governance and Ethics, Public Policy and Government Affairs, Culture and People Development, Health and Nutrition, Environment, Supply Chain, and Community Giving.
“We take our responsibility to our associates, customers, shareholders and the communities where we do business very seriously,” said David C. Novak, Chairman and CEO, Yum! Brands, Inc. “Yum! Brands is uniquely positioned and well prepared to take on the responsibility that comes with that leadership. This Report reinforces our commitment to corporate responsibility, details our performance to date and identifies our future CR direction.”
“Our view is that the dynamic nature of societal and environmental changes – some predictable, some not – requires us to anticipate, understand and respond meaningfully. That makes us stronger and better as a company, and as a responsible citizen of the world community,” said Novak.
The company plans to provide on-going updates on progress and milestones through its web site and social media tools and to issue its next CR report in 2010.
As part of Yum!’s commitment to the community, the company initiated World Hunger Relief in 2007 – now in its second year it has become the world’s largest volunteer movement and private sector effort to combat hunger. Hunger has reached epidemic proportions around the globe affecting nearly one billion people. The global movement has raised nearly $35 million in overall donations for the United Nation’s World Food Programme and other hunger relief agencies. This year, more than 1.4 million employees, franchisees and their families across nearly 36,000 KFC, Pizza Hut, Taco Bell, Long John Silver’s and A&W Restaurants in more than 110 countries volunteered approximately five million volunteer hours to aid hunger relief efforts in communities worldwide. To date, this effort is helping save over 3.4 million people from starvation in remote corners of the world, where hunger is most prevalent. The Company also donates over $45 million of its prepared food in the United States to food banks, homeless shelters and soup kitchens. BusinessWeek has named Yum! Brands as one of the “Top 15 Companies for In-Kind Corporate Philanthropy.”
Yum! Brands, Inc., based in Louisville, Kentucky, is the world’s largest restaurant company in terms of system restaurants, with nearly 36,000 restaurants in more than 110 countries and territories. The company is ranked #253 on the Fortune 500 List, with revenues in excess of $10 billion in 2007. 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. Outside the United States, the Yum! Brands system opened about four new restaurants each day of the year, making it the largest retail developer in the world. The company has consistently been recognized for its reward and recognition culture, diversity leadership, community giving, and consistent shareholder returns. For the second year, the company 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 is helping to save over 3.4 million people in remote corners of the world, where hunger is most prevalent.