McDonald’s has committed itself to a global turnaround plan to counter its recent “poor performance” according to the fast-food chain’s chief executive, Steve Easterbrook.
The business, which is a 100% user of British-sourced Freedom Food pork in the UK, will pursue a “leaner management structure” going forward with more “hard-edged accountability” being brought into the business.
“The numbers don’t lie,” said Mr Easterbrook, adding that he will not “shy away” from the urgent need to reset the business.
“In the last five years, the world has moved faster outside the business than inside,” he added. “We’re not on our game.”
Part of the new strategy will involve focusing more on regions that earn McDonald’s the most, headed by the US, which brings in 40% of operating income, but also including Australia, Canada, France and the UK, as priority international markets.
While some commentators have questioned whether or not the global “love affair” with McDonald’s is over, the CEO maintains that the company is determined to make its scale count as part of the new turnaround plan.
He also said that McDonald’s in the future would “get closer to markets”, becoming a modern and progressive burger company with a sharper focus on customers and a renewed commitment to high quality food, all driven by “hard-edged accountability”.
The company’s new strategy follows a 1.7% fall in global sales in February 2015, led by a 4% decline in the US and a 4.4% decline in Asia/Pacific, Middle East and Africa. The European market, meanwhile, continued to show a small growth in business by climbing 0.7%.
