Ethics and Compliance

Our success is built on the integrity and high ethical standards of our associates. Our ethics and compliance program, based on our Worldwide Code of Conduct, demands the highest ethical standards in all of our operations around the globe.

Worldwide Code of Conduct

Our Worldwide Code of Conduct, adopted in 1997, is more than a document – it is the foundation for the way we conduct ourselves and do business throughout the world. It calls for the highest standards of ethical behavior from our Board members and our 1.5 million associates, and covers a variety of critical issues, including:

The Code is published in English, Chinese, French, German, Korean, Portuguese, Russian, Spanish, Thai and Turkish, and is available on our investor site.

In addition to our Worldwide Code of Conduct, we have developed a comprehensive program continuing compliance training for above-restaurant employees.

Our Board of Directors and our most senior Company associates are also required to complete a conflict of interest questionnaire annually and certify in writing that they have read and understand the Worldwide Code of Conduct.

We know that, in any organization, raising an ethics concern – especially about a superior – can be difficult. So we have set up a system for associates to raise concerns through a safe, anonymous process. Using an independent third party, The Network, Inc., we have opened local ethics hotlines in the U.S. and 18 countries that comprise our major markets. Our associates can use these hotlines 24 hours a day, seven days a week to raise a concern anonymously about possible Worldwide Code of Conduct violations or other ethical conflicts not covered by the Worldwide Code of Conduct. After a call, the independent third party relays the information to our management to investigate the concern.

The Audit Committee of our Board has established additional procedures for complaints and concerns of associates regarding accounting and auditing matters, including the confidential or anonymous submission of such complaints or concerns. More details on these procedures can be found at www.yum.com/investors/governance/complaint.asp.

We also maintain a Supplier Code of Conduct to hold all suppliers to our high standards. To learn more about our Supplier Code of Conduct, click here.