LOUISVILLE, KY, June 12, 2006 – Yum! Brands, Inc., parent company of A&W All-American Food, KFC, Long John Silver’s, 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.
BLACK ENTERPRISE’s second annual list of the best companies for diversity is featured in the July 2006 cover story. With nearly 42 percent more companies applying this year than last, the magazine identified the top 40 companies worthy of recognition. BLACK ENTERPRISE evaluated diversity programs, consulted with diversity experts and surveyed over 1,000 of the country’s largest public companies and more than 50 leading global companies with significant U.S. operations. The magazine 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 also ranked as one of the “10 Best In Workforce Diversity.” The magazine said the following about Yum! Brands in its July issue: “Diversity is not optional for Yum! Brands, Inc. Chairman David Novak says that inclusion ‘helps drive all aspects’ of Yum!. Its U.S. workforce is more than 50 percent minority, nearly 50 percent female and 23 percent black. Also, more than 40 percent of the company’s restaurant managers and above-store employees are minorities. Senior management boasts 13 minority executives, including KFC COO Harvey Brownlee.”
BLACK ENTERPRISE Magazine’s President and CEO, Butch Graves, said of Yum! Brands, “Your company’s commitment to diversity is a positive sign that we are moving in the right direction.”
“The BLACK ENTERPRISE ’40 Best Companies for Diversity’ truly understand how critically valuable a diverse workforce and inclusive business practices are to the success of their operations,” said Graves. “These companies are setting the standard for corporate America, and it is our sincere hope that other companies will follow their lead and build businesses that are more reflective of the society in which we live.”
“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 in FORTUNE magazine as one of the top 50 ‘Best Companies for Minorities,’ only serves to fuel our passion to get better and better. It is important to drive diversity across every aspect of our business because the more we reflect the global marketplace in which we operate, the greater we can satisfy our customers better than anybody,” added Novak.
For the past several years, Yum! Brands has been recognized for its commitment to diversity. 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” and “Top 50 Employers for Women,” one of the “Corporate 100 Companies Providing Opportunities for Hispanics” by Hispanic Magazine and one of the “Top 50 Corporations for Supplier Diversity” by HISPANIC Trends Magazine.
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 and is a founding member of the National Minority Franchising Initiative, the International Franchise Association’s Diversity Institute and the Women’s Franchise and Distribution Forum.
In addition to franchising and supplier diversity, Yum!’s diversity strategy includes employment, leadership development 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, 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 over 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 3,300 multibrand restaurants. Outside the United States in 2005, 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. For the past three years, the company has been recognized as one of FORTUNE magazine’s “Top 50 Employers for Minorities.” It also has been recognized as one of the “Top 50 Employers for Women” by FORTUNE, one of the “Top 30 Best Companies for Diversity” by BLACK ENTERPRISE Magazine, one of the “Corporate 100 Companies Providing Opportunities for Hispanics” by Hispanic Magazine, one of the “Top 50 Corporations for Supplier Diversity” by HISPANIC Trends Magazine and by BusinessWeek as one of the “Top 15 Companies for In-Kind Corporate Philanthropy.”