US confectionery and snacks giant Mondelez International has made a “multi-year” commitment to advance racial equality through local and global diversity initiatives.
It wants to double black representation in its US management team by 2024 and said it will spend US$1bn annually with minority- and women-owned businesses by the same year.
The Cadbury and Oreo brands owner said it wants to “make meaningful impacts in the area of racial equity economic empowerment around the world”.
Mondelez added it has formulated the plan following consultations between company leaders, colleagues and experts through listening forums and educational sessions focused on diversity, inclusion and belonging.
CEO Dirk Van de Put said: “Mondelez International is committed to building a more diverse, inclusive and equitable world, both socially and economically.
“As a global company, we know that diversity in all its forms is a driver of innovation and growth and we must reflect the diversity of our consumers to deliver stronger business performance as we lead the future of snacking.”
The company said it will advance racial equity and economic empowerment across three key areas – colleagues, culture and communities.