Yum! Brands Recognized by International Franchise Association for Accomplishments in Diversity and Inclusion
LOUISVILLE, KY, February 28, 2013 - Yum! Brands, Inc. (NYSE: YUM), the world's largest restaurant company with more than 39,000 KFC, Pizza Hut and Taco Bell restaurants in over 125 countries has been awarded the International Franchise Association's Ronald E. Harrison Award for its accomplishments in Diversity and Inclusion.
"We are honored to receive this award and are proud of the progress we have made toward our strategic diversity and inclusion vision to grow leadership, franchisee and supplier pipelines that increasingly reflect our diverse customer and investor base, " said James Fripp, Senior Director of Global Diversity and Inclusion, Yum! Brands, Inc.
Yum! Brands' commitment to diversity is an organizational priority that begins at the top. Chairman and CEO David Novak personally reviews diversity progress throughout the year to identify and accelerate development of next generation talent at every managerial level. 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. Yum! is increasing the representation of African Americans, Hispanics and women among its key talent and growing the pipeline of diversity in its mid-level manager ranks. In addition, all of its brands have leadership initiatives focused on high-potential diverse talent, and all leaders serve as mentors.
For the past several years, Yum! Brands has been recognized for its commitment to diversity and inclusion. The Company has been named one of FORTUNE magazine's "Top 50 Employers for Minorities" and "Top 50 Employers for Women," one of BLACK ENTERPRISE's "40 Best Companies for Diversity" for seven consecutive years, one of Hispanic Magazine's "Corporate 100 Companies Providing Opportunities for Hispanics," one of Hispanic Enterprise Magazine's "Top 50 Corporations for Supplier Diversity," one of Corporate Responsibility Officer magazine's "100 Best Corporate Citizens" and by BusinessWeek as one of the "Top 15 Companies for In-Kind Corporate Philanthropy."
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, Women Business Enterprise National Council, U.S. Pan Asian American Chamber of Commerce and is a founding member of the International Franchise Association's Diversity Institute. In addition, the Company has demonstrated its commitment to diversity by refranchising hundreds of restaurants to minority franchisees over the last few years.
Yum!'s diversity strategy also includes employment, leadership development and community involvement. More than 25 percent of the Company's annual corporate giving goes to support predominantly minority communities. Each year, Yum! partners with its multicultural customers through high-impact programs like: KFC Pride 360°, LULAC and Organization of Chinese Americans (OCA) National Young Professional and Youth and College Programs, creation of the Poder Magazine Hispana Leadership Summit, and a strategic partnership with National Urban League's Young Professionals, among others. In addition, Yum! is a founding member and supports organizations such as the Women's Foodservice Forum and the Multicultural Foodservice and Hospitality Alliance in order to help grow diverse, emerging leaders in the restaurant industry.
Yum! Brands, Inc., based in Louisville, Kentucky, is the world's largest restaurant company in terms of system units with more than 39,000 KFC, Pizza Hut and Taco Bell restaurants in more than 125 countries and 1.4 million associates. Yum! is ranked #213 on the FORTUNE 500 list, with revenues of more than $13 billion in 2012. The Company's restaurant brands - KFC, Pizza Hut and Taco Bell - are the global leaders of the chicken, pizza and Mexican-style food categories. Outside the United States, the Yum! Brands system opened approximately 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.
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