Governance Documents

Governance Documents

Articles of Incorporation & Bylaws

Download a printable version of the Restated Articles of Incorporation (5-26-11)
Adobe PDF version (1.3M)

Download a printable version of the Amended and Restated Bylaws (11-12-21)
Adobe PDF version (303K)

Audit Committee Policy

Download a printable version of the Audit Committee Pre-Approval Policy (03/08)
Adobe PDF version (13K)

Code of Conduct

The Company’s Global Code of Conduct applies to the Board of Directors and all employees of Yum! Brands, Inc. and its subsidiaries. The Code sets forth some of the policies and procedures regarding standards of conduct that are required of Yum! directors and employees. The Code of Conduct is intended to help employees conform to high ethical standards and to protect Yum! and its employees’ reputations.

Every year our Board of Directors and the 2,000 most senior employees in the Company are required to complete a conflicts of interest questionnaire and certify in writing that they have read and understand the Code of Conduct.

Download printable versions of the Code of Conduct in the following languages…

Language PDF Version
English Download (575KB)
French Download (569KB)
German Download (577KB)
Spanish Download (557KB)
Thai Download (848KB)
Vietnamese Download (712KB)

Complaint Procedures

The Audit Committee has established policies on reporting of concerns regarding accounting and auditing matters in addition to our policy on communicating with our non-management directors. Any person, whether or not an employee, who has a concern about the conduct of the Company or any of our people, with respect to accounting, internal accounting controls or auditing matters, may, in a confidential or anonymous manner, communicate that concern to our Chief Legal Officer, Erika Burkhardt. If any person believes that he or she should communicate with our Audit Committee Chair, Paget Alves, he or she may do so writing him at Yum! Brands, Inc., Attention: Corporate Secretary, 1441 Gardiner Lane, Louisville, Kentucky 40213. In addition, a person who has such a concern about the conduct of the Company or any of our people may discuss that concern on a confidential and anonymous basis, by contacting The Speak Up helpline at 1-844-418-4423. The Speak Up helpline is our designated external contact for these issues and is authorized to contact the appropriate members of management and/or the Board of Directors with respect to all concerns it receives. Translation services are available to callers.

Download printable versions of our Policy on Reporting of Concerns Regarding Accounting and Auditing Matters

Adobe PDF version (96 KB)

Language PDF Version
English Download (1032KB)
French Download (2332KB)
German Download (2363KB)
Italian Download (2436KB)
Spanish European Download (2436KB)
Spanish Latin America Download (2436KB)
Thai Download (2436KB)
Vietnamese Download (2436KB)

Contacting the Board

Shareholders, or other parties who wish to communicate directly with non-management directors as a group or the Board, may do so by writing to the Nominating and Governance Committee as follows:

Yum! Brands, Inc.
Nominating and Governance Committee
1441 Gardiner Lane
Louisville, Kentucky 40213

The Nominating and Governance Committee of the Board approved a process for handling letters received by the Company and addressed to non-management members of the Board or the Board. Under that process, the Corporate Secretary of the Company reviews all such correspondence and regularly forwards to a designated individual member of the Nominating and Governance Committee copies of all such correspondence (except commercial correspondence and correspondence duplicative in nature, in which case the addressee will be informed of the number of duplicate correspondence and all duplicate correspondence will be available for directors review upon their request) and a summary of all such correspondence. Directors may at any time review a log of all correspondence received by the Company that is addressed to members of the Board and request copies of any such correspondence. Written correspondence from shareholders relating to accounting, internal controls or auditing matters are immediately brought to the attention of the Company’s Audit Committee Chairperson and to the internal audit department and handled in accordance with procedures established by the Audit Committee with respect to such matters (described at “Complaint Procedure for Accounting/Auditing Matters”). Correspondence from shareholders relating to Compensation Committee matters are referred to the Chairperson of the Compensation Committee.

Governance Principles

The Corporate Governance Principles of the Board of Directors, along with the Company’s articles and bylaws, committee charters and the World Wide Code of Conduct, provide the framework for Yum! Brands, Inc. governance. These principles embody the principles by which our Board has been operating for many years.

The Board reviews these principles and other aspects of governance annually or more often if necessary.

Download printable versions of the
Corporate Governance Principles (Last updated 11-12-24)

Adobe PDF version (169K)

Political Contributions & U.S. Government Advocacy Policy

Political Contributions Policy
Adobe PDF version (61K)

2023 Corporate Contributions & Expenditures
Adobe PDF version (114K)

2022 Corporate Contributions & Expenditures
Adobe PDF version (64K)

2021 Corporate Contributions & Expenditures
Adobe PDF version (64K)

2020 Corporate Contributions & Expenditures
Adobe PDF version (61K)

2019 Corporate Contributions & Expenditures
Adobe PDF version (20K)

2018 Corporate Contributions & Expenditures
Adobe PDF version (68K)

Proxy Statement

Yum! Brands’ proxy statement for its 2021 Annual Meeting of Shareholders describes the matters that will be voted on at the company’s annual meeting on May 19, 2022. The meeting will be held at 9:00am ET at the Yum! Conference Center, 1900 Colonel Sanders Ln, Louisville, KY 40213.

Yum! Brands 2021 Annual Report

Proxy Statement Format
2021 PDF

Order A Proxy

To order a Proxy or other financial documents, please phone (888) 298-6986.

Supplier Code of Conduct

Yum! Brands is committed to conducting its business in an ethical, legal and socially responsible manner that aligns with our organizational values. To encourage legal, social and ethical business practices by our suppliers and subcontractors we established a Supplier Code of Conduct.

Download a printable version of the Supplier Code of Conduct (06/19)
Adobe PDF version (154K)

Transparency in Health Coverage

The Transparency in Coverage Final Rules require certain group health plans to disclose on a public website information regarding in network provider rates and historical out of network allowed amounts and billed charges for covered items and services in two separate machine readable files (MRFs). The MRFs for the benefit package options under the Yum! Brands Health Care Plan are linked below: