LOUISVILLE, KY, March 28, 2006 – Yum! Brands, Inc., has been named one of Hispanic Trends magazine’s “Top 50 Corporations for Supplier Diversity” for its efforts to work with minority-owned suppliers.
Hispanic Trends “Top 50 Corporations for Supplier Diversity” list recognizes large U.S. corporations that offer minority business owners the best supplier opportunities. The Top 50 list includes companies that work with Latino business owners. The Magazine lists the companies alphabetically.
“We’re honored to be recognized by Hispanic Trends magazine for our supplier diversity efforts,” said David C. Novak, Chairman and CEO, Yum! Brands, Inc. “It is important to drive diversity across every aspect of our business because the more our company reflects the global marketplace in which we operate, the greater we can satisfy our customers better than anybody.”
“We continuously grow our pipeline of diverse suppliers by working with national minority enterprise organizations, regional purchasing councils and chambers of commerce to identify outstanding minority and women-owned businesses,” said Terrian Barnes, Global Diversity Officer, Yum! Brands, Inc.
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.
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 “Top 30 Best Companies for Diversity” by BLACK ENTERPRISE Magazine and one of the “Corporate 100 Companies Providing Opportunities for Hispanics” by Hispanic Magazine.
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.