LOUISVILLE, KY, September 20, 2010 – Yum! Brands (NYSE: YUM), parent of KFC, Pizza Hut and Taco Bell, announced today the Company is on track to beat its five–year, multi–million–dollar hunger relief commitment made at the Clinton Global Initiative.
In just two years since Yum! Brands’ pledge at the Clinton Global Initiative, the Company has: raised $42.5 million to help the United Nations World Food Programme (WFP) and others provide 170 million meals for hungry school children in developing countries; donated 11 million hours of hunger relief volunteer service; donated $120 million worth of its prepared food to hunger agencies in the United States; and generated approximately $100 million worth of awareness of the hunger problem.
The funds have been raised through Yum! Brands’ annual World Hunger Relief global effort that is kicking off soon in the U.S. and other countries. World Hunger Relief is the world’s largest private sector hunger relief effort, spanning 110 countries, 37,000 KFC, Pizza Hut, Taco Bell, Long John Silver’s and A&W All–American Food restaurants and more than 1 million employees. The campaign raises awareness, volunteerism and funds for WFP and other hunger relief agencies.
“Yum! Brands is determined to be a leader in wiping out hunger,” said David Novak, Chairman and CEO, Yum! Brands, Inc. “As the world’s largest restaurant company, we are committed to raising even more awareness, volunteerism and money to help the approximately 1 billion hungry people around the globe. Today, more than ever, there is a need for companies like ours to get involved and find a meaning solution to this critical problem.”
At the Clinton Global Initiative in 2008, President Bill Clinton announced the Company’s five–year commitment during a special Plenary Session that made school meals a top priority in the fight to end global hunger. Over a five–year span, the Company pledged to: raise and donate at least $80 million to help WFP and others provide 200 million meals for hungry school children in developing countries; donate 20 million hours of hunger relief volunteer service in the communities in which it operates; donate $200 million worth of its prepared food to hunger agencies in the United States; and use the Company’s marketing clout to generate awareness of the hunger problem, and convince others to become part of the solution.
In the past three years, World Hunger Relief has raised nearly $60 million for WFP and other hunger relief organizations and is helping to provide approximately 250 million meals for millions of people in remote corners of the world. More than 1 million of the Company’s employees, franchisees and their families have volunteered more than 15 million hours to aid hunger relief efforts in communities worldwide.
For more than ten years, the Company has also donated more than $60 million of prepared food annually to the underprivileged in the United States. Since the Company went public in 1997, it has donated nearly $550 million of its food to hunger relief agencies in the U.S.
Yum! Brands, Inc., based in Louisville, Ky., is the world’s largest restaurant company in terms of system restaurants with more than 37,000 restaurants in more than 110 countries and territories. The company is ranked #216 on the Fortune 500 List, with revenues of nearly $11 billion in 2009. 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 categories and quick–service seafood categories. A&W Restaurants is the longest running quick–service franchise chain in America. Outside the United States, the Yum! Brands system opened more than 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.
WFP is the world’s largest humanitarian agency fighting hunger worldwide. Each year, on average, WFP feeds more than 90 million people in more than 70 countries. For more information, visit www.wfp.org.
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes global leaders to devise and implement innovative solutions to some of the world’s most pressing challenges. Since 2005, CGI Annual Meetings have brought together more than 125 current and former heads of state, 15 Nobel Peace Prize laureates, hundreds of leading CEOs, heads of foundations, major philanthropists, directors of the most effective nongovernmental organizations, and prominent members of the media. These CGI members have made more than 1,700 commitments valued at $57 billion, which have already improved the lives of 220 million people in more than 170 countries. The 2010 CGI Annual Meeting will take place from September 20–23, 2010, in New York City. The CGI community also includes CGI University (CGI U), a forum to engage college students in global citizenship, MyCommitment.org, an online portal where anybody can make a Commitment to Action, and CGI Lead, which engages a select group of young leaders from business, government, and civil society. For more information, visit www.clintonglobalinitiative.org.