LOUISVILLE, KY, June 14, 2005 – Yum! Brands, Inc., has been named one of BLACK ENTERPRISE Magazine‘s “30 Best Companies for Diversity” for its comprehensive results across key diversity measures.
BLACK ENTERPRISE‘s “30 Best Companies for Diversity” survey appears in its July 2005 issue. The magazine surveyed over 1,000 public companies and made its selection based on the level of African-American and ethnic minority representation in four categories including Board of Directors, procurement, senior management and total workforce diversity.
Yum! Brands, parent company of A&W All-American Food, KFC, Long John Silver’s, Pizza Hut and Taco Bell, ranks high for its diverse employee base. “Yum! Brands captures a high spot in workforce diversity, with ethnic minorities composing more than 50 percent of all U.S. employees,” the magazine said in its July issue. Over fifty-four percent of the company’s U.S. workforce are minorities.
BLACK ENTERPRISE Magazine’s President and COO, Earl Graves, Jr. said of Yum! Brands, “You represent the gold standard for diversity. We are proud to celebrate your unwavering commitment to establishing and maintaining the type of inclusion programs and initiatives that are consistent with our definition of true diversity in the workplace.”
“We’re honored to be recognized for our diversity achievements,” said David C. Novak, Chairman and CEO, Yum! Brands, Inc. “BLACK ENTERPRISE Magazine‘s recognition, in addition to our ranking by FORTUNE magazine as one of the top 50 ‘Best Companies for Minorities,’ only serves to fuel our passion to get better and better, as we know diversity helps drive our business by connecting us even more closely to the customers we serve,” added Novak.
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; MultiCultural Foodservice & Hospitality Alliance and the Women’s Foodservice Forum, among others.
Many of Yum! Brands’ philanthropic 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. Yum! Brands Foundation also has committed approximately $1 million to the Louisville-based Muhammad Ali Center (an international cultural and educational institution that will open in 2006), for the advancement of humanity worldwide. In addition, Yum! Brands is committing $250,000 for the creation of the Children’s Educational Center as part of the Kentucky Center for African-American Heritage.
Yum! Brands Inc., based in Louisville, Kentucky, is the world’s largest restaurant company in terms of system restaurants with nearly 34,000 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 2,900 multibrand restaurants. Outside the United States in 2004, 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. The company has been recognized in BLACK ENTERPRISE Magazine as one of the “30 Best Companies for Diversity” and for the past two years, in FORTUNE‘s top 50 “Best Companies for Minorities,” claiming the number-one spot for “managerial diversity.”