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.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company said it will advance racial equity and economic empowerment across three key areas – colleagues, culture and communities.