LOUISVILLE, KY, August 23, 2005 – For the third consecutive year, Yum! Brands, Inc., has been named one of FORTUNE magazine’s “Top 50 Employers for Minorities” for its comprehensive results across key diversity measures.
FORTUNE magazine’s “Top 50 Employers for Minorities” survey appears in its August 22 issue. The magazine surveyed over 1,000 public and private U.S. companies and made its selection based on the level of minority representation throughout the organization including compensation, managerial diversity, board of director compensation, workforce composition and CEO commitment to diversity, among other categories. In 2003, Yum! Brands ranked 35th on FORTUNE’s “Top 50 Employers for Minorities” list and in 2004, Yum! jumped 20 spots to place 15th out of 50 on the list. Beginning this year, the magazine no longer ranks its “Top 50 Employers for Minorities” numerically, but lists them alphabetically.
“Yum! Brands’ commitment to diversity helps drive all aspects of our business. We’re honored to be recognized for our diversity achievements,” said David C. Novak, Chairman and CEO, Yum! Brands, Inc. “FORTUNE magazine’s recognition, in addition to being named one of BLACK ENTERPRISE’s ’30 Best Companies for Diversity,’ only serves to fuel our passion to get better and better. Building on our diverse foundation at all of our brands gives us a competitive edge and helps drive Customer Mania,” added Novak.
For the past three years, FORTUNE has recognized Yum! Brands for its diverse workforce. 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 are minorities.
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 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’s “30 Best Companies for Diversity” and for the past three years in FORTUNE’s “Top 50 Employers for Minorities.”