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Tag: McDonald

  • McDonald’s sells Singapore, Malaysian franchise to Saudi group

    McDonald’s sells Singapore, Malaysian franchise to Saudi group

    McDonald’s said on Friday it had sold the franchise rights for its restaurants in Singapore and Malaysia to Saudi Arabia’s Lionhorn Pte Ltd as part of a plan to move away from direct ownership in Asia.

    The fast-food chain said it transferred its ownership interest in 390 restaurants, more than 80 per cent of which were company-owned, on Dec. 1 to Lionhorn.

    Lionhorn is led by Sheik Fahd and Abdulrahman Alireza, who are franchisees for nearly 100 McDonald’s restaurants in the western and southern regions of Saudi Arabia.

    McDonald’s did not disclose the financial terms of the deal.

    Reuters reported in October that McDonald’s was nearing a deal worth up to $400 million to franchise the outlets to Reza group, which also owns and operates McDonald’s outlets in the western and southern regions of Saudi Arabia.

    The Lionhorn deal is in line with McDonald’s plans to bring in partners in Asia as it switches to a less capital-intensive franchise model.

    The company said it has now franchised about 1,300 outlets as a part of its target to become 95 per cent franchised by the end of 2018.

  • GMR Hyderabad International Airport Adds New Brands to its F&B Kitty

    GMR Hyderabad International Airport Adds New Brands to its F&B Kitty

    GMR Hyderabad International Airport becomes all the more favourite destination for foodies. Recently, the airport added Mc Café and Subway to its succulent list of global F&B (Food & Beverages) brands.

     With the opening of its first outlet at Hyderabad Airport, Mc Café, has done a maiden venture in the F&B category of Indian Airports; this also happens to be their first outlet in Hyderabad City. Mc Café, which is a renowned brand of coffee-house-style food and drink chain owned by McDonald’s, is available for passengers and visitors at the F&B Space at Car Park Level of the airport. One can explore an exciting range of beverages, smoothies, hot cakes, indulgent treats of burgers, chicken wings among the many more.

     Subway, a popular American fast food restaurant franchise, is available at Airport Village (Arrivals level) and F&B space at the car park level of the airport. The outlet offers a wide range of Indian and international subs. Few of the subs are 97% fat free catering to the needs of health conscious people. Operating round the clock, both these outlets are attracting the foodies in hordes.

     Commenting on the inclusion of these two brands at Hyderabad Airport, Mr. SGK Kishore, CEO, GMR Hyderabad International Airport Ltd. (GHIAL), said, “We welcome Mc Café and Subway at Hyderabad Airport. Hyderabad, as a city, is well known for its hospitality and variety of cuisines it offers to everyone. In the same line, we at Hyderabad Airport, too, go extra mile to welcome our passengers and visitors by continuously enriching our portfolio of Food & Beverages. The addition of Mc Café and Subway has definitely made our F&B offer all the more attractive.”

  • McDonald’s bares plans to explore growth opportunity in Asia

    McDonald’s bares plans to explore growth opportunity in Asia

    McDonald’s Corporation said it is keen to explore growth potential in Asia and is currently seeking partners who would enhance its competitive advantages in the region.

    “Asia represents a significant area of opportunity for McDonald’s to blend our global quality standards with local insights and expertise from partners who share our vision and values,” said Steve Easterbrook, McDonald’s President and CEO, in a statement.

    This move is expected to allow the fast-food chain to accelerate our growth and scale faster across diverse markets.

    “We’re in the midst of transforming our business and taking a strategic and thoughtful approach to enhance our ability to grow around the world,” Easterbrook said.

    The McDonald’s chief said China, Hong Kong, and Korea collectively represent more than 2,800 of its restaurant locations, the majority of which are currently company-owned. The three countries are considered high-growth markets, which means they have relatively higher restaurant expansion and franchising potential.

    Over the next five years, McDonald’s said it intends to add more than 1,500 restaurants in these three territories.

    The company also recently announced its intent to identify strategic partners in Taiwan and Japan. Last year, McDonald’s committed to strategically evaluate ownership structures in markets around the world with the overall goal of reducing the number of restaurants that the company owns and operates. More restaurants will be placed under local ownership.

  • McDonald’s to set up 1500 new restaurants in China, Hong Kong and Korea

    McDonald’s to set up 1500 new restaurants in China, Hong Kong and Korea

    McDonald’s Corporation, the world’s largest hamburger chain, said on Thursday that it was adding more than 1,500 new restaurants in China, Hong Kong and South Korea over the next five years and was on the lookout for suitable investment partners.

    The US company said the new outlets are in addition to the more than 2,800 restaurant locations it has in these markets, most of which are company-owned.

    “We’re committed to Hong Kong for the long term and intend to combine our global brand with local insights and expertise. This gives us the ability to enable faster decision-making, achieve restaurant growth and deliver a great restaurant experience for our customers in Hong Kong,” said Steve Easterbrook, President and Chief Executive of McDonald’s.

    The company has 230 McDonald’s restaurants in Hong Kong and employs more than 15,000 people. On average, it serves about 1 million customers every day.

    McDonald’s Hong Kong said: “We have continued our great success in the past 40 years and we know that we would require continued capital expenditure in the future – to open new locations, rebrand our restaurants, accelerate McCafe penetration, and invest in the digital experience so as to take advantage of the opportunities in Hong Kong.”

    “We have not approached any potential strategic partner(s) at this point in time and we are still exploring what the right ownership structure will be for the new McDonald’s outlets in Hong Kong,” it said.

    Jeannette Chan, regional director of retail department at JLL said McDonald’s ambitious expansion plan showed its confidence on market prospects in Asia.

    “Most of the fast food retailers are contemplating expansion or relocation after seeing a sharp fall in Hong Kong retail rentals for street level shops,” she said.

    However, some industry experts said the expansion would be largely focused on the mainland, where there is still huge growth potential. “The Hong Kong market is already saturated” sources said.

    It would be better for McDonald’s to team up with local partners who have well established retail networks for its expansion in the mainland,” they said.

  • The McDonald’s of the future has opened in Hong Kong

    The McDonald’s of the future has opened in Hong Kong

    Neutral, modern look … inside the McDonald’s Next store in Hong Kong. With mood lighting and a much more modern menu, this restaurant has been hailed as the McDonald’s of the future.

    The fast food chain has opened a new concept store in Hong Kong located near Admiralty Station known as McDonald’s Next.

    The new eatery has been designed by Landini Associates, an Australian-based company, and is said to be “an experiment in non-design” with more neutral colour tones.

    It has moved away from the former design of McDonald’s, which was historically characterised by bold and bright red and yellow colours.

    Instead, the new concept store features concrete tables where diners can enjoy their meals in booths, and on bar stools with communal bench tops.

    “The colourful graphic environments, that became a signature for McDonald’s globally, are now replaced with a simpler, quieter and more classic approach,” Landini Associates posted on Instagram.

    “An experiment in ‘No Design’, the intention is to hero the food, the service and the people who come to enjoy it.”

    New way to dine ... what the new McDonald’s store looks like. Picture: Landini Associates website

    New way to dine … what the new McDonald’s store looks like. 

    The new design has also transformed the kitchen, which is now open for customers to see.

    Staff uniforms have been revamped and the walls are plain and covered in simple graphics including a white outline of a burger.

    Open kitchen ... customers can see food being made. Picture: Landini Associates website

    Open kitchen … customers can see food being made. 

    There are also multiple ways that customers can order a meal. They can order through a member of staff at a counter, use a computerised kiosk, or order at their table.

    The restaurant has the popular Create Your Taste option, where customers can build their own burgers.

    There is also a bar where salads, desserts and drinks can be bought.

    Customers can also access wireless charging for their devices including laptops and smartphones at the tables inside the eatery.

    News of the new concept store being introduced comes after the world’s biggest Macca’s — located in Orlando, America — is set to close its doors in 2016.

    A new 19,000 square-foot McDonald’s building will replace the current premises that was built in 1976 and features a bowling alley.

    The new building will feature a two-lane drive through and a self-order kiosk for customers to build their own burgers. It will also boast an exclusive open design pizza and pasta area, and a wood-fire oven.

    The restaurant will continue to sell the famous McDonald’s items, as well as its popular gourmet options.

  • McDonald’s pilots new open concept in Hong Kong

    McDonald’s pilots new open concept in Hong Kong

    McDonald’s first opened its doors in Hong Kong in 1975. Fast-forward 40 years and McDonald’s is pioneering a new dining concept it’s calling McDonald’s Next in the bustling city on the South China Sea.

    Billed as a “food bar,” the open-concept eatery is located in the city’s Admiralty area, a major shopping hub (and hang-out for youths) near the main Central district on Hong Kong Island.

    McDonald's Next Hong Kong digital create your taste ordering kiosk touchscreen

    While a handful of McDonald’s in Hong Kong already offer Create Your Taste digital ordering, the McDonald’s Next location in Admiralty (taglines include: “What’s Next is Now” and “Your creation. Made by us. Worth the wait”) is offering a whole new level of personalization and customer experience for the brand.

    mcdonald's next

    In addition to being open until 1:00 a.m. and offering free mobile device charging and table service after 6:00 pm, what makes the Admiralty location unique is the personalization, interactive design and social nature of the dining experience.

    McDonald's Next personalized Hong Kong table service Create Your Taste

    Almost like a sushi bar in appearance, customers sidle up to the counter (which McDonald’s calls a theater kitchen) to design and order on touchscreens their customized salads and burgers from the DIY “Create Your Taste” menu that launched in Hong Kong in 2014.

    McDonald's Hong Kong Next Create Your Taste #createyourtastehk

    McDonald's Next Hong Kong customer #createyourtastehk #cyt

    As in other CYT locations, the food is served on a wooden plank with a toothpick flag impaling the burger bun and the fries in mesh wire baskets.

    McDonald's Hong Kong Create Your Taste burger menu

    The integrated McCafe menu also includes gourmet coffee in smartly designed packaging, such as premium Ethiopian Sidamo coffee beans bagged in a style that would make third wave coffee snobs swoon.

    On the tables, customers will find various makes of charging cords for mobile devices to rejuice their ever-present smartphones.

    Coffee beverages served with latte foam art depicting characters in a marketing tie-in with the new Peanuts movie and a gingerbread man design, part of the local “Hug the Moment” holiday campaign.

    McDonald's Next Hong Kong DIY salad Snoopy foam latte

    Last but not least, for dessert customers can indulge in mixed berry Belgian waffles. Throughout the experience, they are (naturally) encouraged to share photos of their creations on social media with the hashtag #createyourtastehk.

    McDonald's Hong Kong Create Your Taste burger menu

    The “Create Your Taste” menu consist of 19 base ingredients including numerous salad options with cheese, sauces and ingredients like chopped boiled eggs, grilled chicken, couscous, quinoa, asparagus and even crayfish.

    The packaging both rewards and reflects the handiwork of each customer’s creation, with taglines such as “Your creation — made by us, served to you.”

    McDonald's Next Hong Kong Create Your Taste packaging

    On the tables, customers will find various makes of charging cords for mobile devices to rejuice their ever-present smartphones.

    McDonald's Next Hong Kong Create Your Taste mobile charging

    In another inspired touch, limited edition Create Your Taste tote bags given away during the launch promotion reproduced each customer’s unique order as a graphic illustration, whether a hamburger or a salad.

    McDonald's Hong Kong Create Your Taste tote bag

    McDonald's Next Hong Kong Create Your Taste salad tote bag

    To be sure, Create Your Taste is not unique to McDonald’s Hong Kong, and is now available in other markets including New Zealand, Australia,Canada and in select US cities including New York, where YouTube vlogger Casey Neistat reviewed the CYT “$12 burger” in September with a pal.

    The Next concept also has hints of McDonald’s “Corner McCafe” concept concept in Sydney, Australia.

    McDonald's Hong Kong Create Your Taste #cyt localization

    Beyond the customizable menu itself, the McDonald’s Next design is far from the counter interaction McDonald’s customers are use to. The open design of the bar encourages a more social space.

    McDonald's Next Hong Kong employees

    And forget the standard issue gold and red uniforms—McDonald’s Next employees wear a uniform that’s hipper and more appropriate for Hong Kong: black t-shirts. Even the balloons decorating the McDonald’s Next are chic, coming in black and silver.

    And on the tables, customers will find various makes of charging cords for mobile devices to rejuice their ever-present smartphones. McDonald’s is promoting McDonald’s Next as part of the brand’s 40th Anniversary in Hong Kong. The local press has raved about the new “food bars” with local social media users equally excited.

    It’s all designed, of course, to appeal to selfie-happy millennials and post-millennials (i.e. teens), key demographics for McDonald’s in the Chinese territory. But the local media hasn’t been all raving about the cool new McDonald’s Next, even as the Create Your Taste concept gains traction worldwide. For weeks now, Hong Kong’s newspapers have been reporting on how Western chains play into the mad economics of the city, even as BuzzFeed’s reviewers (for one) rave about McD’s only-in-Hong Kong local menu items such as flavored seasonings to shake onto your French fries.

    Scores of former fast food workers recently turned up at Hong Kong’s human services office after spiraling rents resulted in the closure of five of the city’s seven Burger King locations.

    And a homeless woman’s death in a McDonald’s booth—where she sat slumped over, unnoticed for some time—has shined a light on how the 24-hour McDonald’s locations have become de facto homeless shelters, with many of the destitute stretching out in booths overnight.

    Meanwhile, a little north in mainland China in the city of Hangzhou, McDonald’s is weathering a different kind of PR storm. Criticism has met the company’s decision to convert a historic building on the city’s famous West Lake into a McDonald’s.

    The building is the former home of Chiang Ching-kuo, son of Generalissimo Chiang Kai-shek, both of whom were Kuomintang leaders and later presidents of Taiwan—the longtime enemy and ongoing thorn-in-the-side of China’s ruling Communist party.

    Beyond the burger giants, KFC is opening its first ever location on the roof of the world. The chain is not yet in the far west of Tibet but that will change early next year when a KFC will open in Tibet’s capital of Lhasa. It will also come as Yum! Brands spins off its China operations by the end of 2016.

  • Horror quarter for McDonald’s Japan

    Horror quarter for McDonald’s Japan

    McDonald’s Japan had already warned investors it would be a nightmare year.

    Earlier this month it announced the closure of 131 stores, a menu revamp and refurbishment of 500 stores in a bid to stem a projected US$319 million loss.

    This week, McDonald’s Holdings Company (Japan) released its first quarter trading results: same-store sales plunged 32.3 per cent due largely to a 24.3 per cent drop in customers and total sales fell 39.9 billion yen (US$332 million) to 83 billion ($691 million).

    Sales were hampered by ongoing food safety issues relating to suppliers, and even a widely reported shortage of fries, which led to unprecedented rationing to customers.

    The result was an ordinary trading loss of 11.1 billion yen ($92.4 million) which after the first round of one-off restructuring costs grew to a total 14.5 billion ($121 million) loss for the three months to March 31.

    But the fast food company said same store sales are trending upwards – with expectation they will turn positive in the third quarter. Provisional figures for April show a drop of 21.5 per cent, nearly a third less than the first quarter.

    For now, the company says its focus is on executing the Business Revitalization plan in order to accelerate the business recovery, lay the foundations for future growth, and achieve mid- and long-term goals.

    “Going forward, regaining customer confidence will remain our number one priority. In addition, we aim to accelerate the pace of business recovery and lay the foundations for future growth through the flawless execution of our Four-pillar Business Revitalization Plan: “Customer Focused Initiatives”, “Accelerate Restaurant Revitalization”, “Localize Our Business Structure”, and “Improve Cost and Resource Efficiency”,” McDonald’s Japan said in its earnings statement.

    “Through these structural changes along with customer and community focused activities, we will strive to achieve our vision of becoming a Modern Burger Restaurant that Connects with Customers.”

  • McDonald’s Japan to close 131 stores

    McDonald’s Japan to close 131 stores

    McDonald’s Japan will axe 131 stores, revamp its menu and refurbish 500 stores this year as it tries to reduce a projected US$319 million loss.

    Listed McDonald’s Holdings Company (Japan) said it expects sales to fall by 14 per cent this calendar (and financial) year. Worse, it projects a loss of 38 billion yen (US$319 million) reflecting the ordinary loss and impairments. System-wide sales combine company sales and those of its franchisees.

    The company says in the year ahead it will implement a Business Revitalization Plan aimed to “bring our customers visible points of change and become a Modern Burger Restaurant that Connects with Customers”.

    The plan has four pillars: New customer focused initiatives, speeding up restaurant revitalisation, localising its business structure and improving cost and resource efficiency.

    McDonald’s Japan outlined the four pillars in a statement:

    • Customer Focused Initiatives

    “We strive to bring more comfortable dining experience for our customers. Some immediate initiatives currently under trial and to be announced in the very near future include:

    ✧ New set menu that provide more customised choice and wider variety for our customers.

    ✧ New Happy Meal options.

    ✧ A new personalised digital loyalty program with relevant coupons.

    ✧ A mobile app which gathers real-time feedback from our customers.”

    • Accelerate Restaurant Revitalisation

    “We will further accelerate remodeling of existing restaurants to provide more modern, clean, inviting restaurants environment for our customers to enjoy their meals. Presently, only 25 per cent of our restaurants fit our vision of a Modern Burger Restaurant; we plan to remodel approximately 2000 restaurants aiming to have 90 per cent of our restaurants upgraded to modern within four years. In 2015, we are targeting to remodel approximately 500 restaurants located in food courts or shopping malls. In addition, we will close 131 underperforming restaurants this year that have no long-term growth potential, and will reallocate resources resulting from the strategic closures to invest in remodeling restaurants with greater growth potential.”

    • Localise Our Business Structure

    “Broad-scale national strategies, such as national marketing, menu development and operation system development, are defined as ‘Big M’, whereas the activities rooted in restaurants and/or local communities are defined as ‘Little M’. We will strengthen ‘Little M’ activities and operate our business in a manner more rooted in local communities and restaurants.

    “In order to realise management from a position that is closer to our customers, we will introduce Regional Headquarters. We will reorganise McDonald’s Japan into three regions. Each region will have business functions such as marketing, HR and finance, and have full business execution responsibility for their region, which will enable each region to reduce the layers within organisation and to implement activities rooted in the local community and customers. Also, we will further strengthen Marketing activities to meet the demands of the local communities and customers.”

    • Improve Cost and Resource Efficiency

    “To concentrate our resources into investments for long-term business growth, we will effectively allocate our resources such as people and capital, and drastically transform our cost structure.

    Accelerate Restaurant Revitalisation: New restaurant development will be very carefully selected and we are shifting our resource from new store openings to remodeling existing stores. We will prioritise remodeling of existing restaurants rather than new opening to offer great restaurant experiences and bring our customers visible points of change.

    On the other hand, we will secure capital for investment through strategic closures. Strategic closures are expected to incur non-recurring cost of approximately 4 billion yen and improvement in profitability of about 2.4 billion yen (annualised).

    Re-engineer our costs structure: To maximise the effect of the regional HQ structure, we will review and reprioritise the HQ functions and operations and will put the right people into the right jobs. This involves the offering of voluntary early retirement packages to approximately 100 permanent positions in our Tokyo HQ and the field.

    We have identified more than 12 billion yen in cost saving potentials across food & paper, logistics and labor and we will promote cost optimisation.

    Financial support to franchise owners: We will continue to provide financial support to franchise owners this year to offer continuous great restaurant experiences to all of our customers.

    Borrowing facilities: To secure capital required to execute our Business Revitalization Plan, we have increased borrowing facilities and borrowed 22 billion yen.

    McDonald’s Japan said the board accepts responsibility for recent results and the disappointing forecast, so will reduce the pay of its board and senior executives by between 10 and 20 per cent.

    “We expect to post a huge loss for FY2015 impacted by non-recurring one-time cost and investments associated with the above-mentioned Business Revitalization Plan. However, by executing this Business Revitalization Plan, we expect to return to profitability in FY2016.”

  • McDonald’s joins Wal-Mart, Gap, other cos. in raising wages

    McDonald’s joins Wal-Mart, Gap, other cos. in raising wages

    McDonald’s said Wednesday it is raising pay for workers at restaurants that the company owns. Here’s a look at all the big companies that recently have announced they are boosting hourly wages for their employees:

    In February Wal-Mart Stores Inc., the largest private employer in the U.S., said it will boost its minimum pay to $9 an hour in April and to $10 by February 2016. That means 500,000 employees will get a raise.

    TJX Cos., the parent of discount store operator TJ Maxx and Marshall’s, said in February that it will pay all of its U.S. workers at least $9 an hour starting in June.

    Health insurer Aetna Inc. said in January that it will pay a minimum of $16 an hour starting in April. That’s more than twice the federal minimum wage of $7.25, and Aetna said about 5,700 employees will get a raise.

    Home furnishings retailer Ikea said in June that it would increase its raise wages 17 percent on average, bringing its hourly wage to $10.76 on average. Ikea said it will peg its salaries to the cost of living in different locations, and its move means higher wages for about 5,500 hourly store workers.

    Retailer Gap Inc. said in February 2014 that it will set the minimum wage for workers at $9 an hour this year and $10 an hour in 2015.

    McDonald’s Corp. said starting wages will be $1 above the local minimum wage, and its average hourly wage at those stores will be more than $10 an hour, up from $9 an hour. The move applies to about 90,000 workers at about 1,400 restaurants owned by McDonald’s. It has about 14,300 U.S. locations, the vast majority of which are franchised.

  • McDonald’s global sales decline

    McDonald’s global sales decline

    Fast food giant McDonald’s says its global same store sales fell 1.7 per cent in February.

    More worryingly, “aggressive competitive activity”, led to sales in its core US home market falling by four per cent.

    Across Asia, the Middle East and Africa, sales fell 4.4 per cent, but in Europe they rose a modest 0.7 per cent.

    McDonald’s is aware it needs to take action to restore its market share in the US. New CEO Steve Easterbrook hosted a “Turnaround Summit” for US franchisees in Las Vegas last week.

  • McDonald’s Philippines marries value meals with mobile access

    McDonald’s Philippines marries value meals with mobile access

    McDonald’s Philippines has partnered with mobile services provider Smart Communications in its latest marketing promo to encourage customers to purchase value meals.

    Every order of any McDonald’s Value Meal plus fries or sundae comes with a free Smart messaging coupon that gives customers a whole day of unlimited text and unlimited access to mobile chat apps.

    The Philippines has about 102.8 million mobile subscriptions in 2013 or over 100 percent of the population, according to data from the International Telecommunications Union (ITU). Most people, however, are on prepaid subscription.

    The Smart messaging coupons to be given away with the meals gives a prepaid subscriber all-day access to SMS and chat apps such as Facebook Messenger, Line, Viber, WeChat and Whatapp – without need for WiFi connection.

    “Our subscribers can expect more perks and freebies as we move toward further enriching their mobile lifestyle,” said Joel Lumanlan, Smart Prepaid head.

  • McDonald’s shareholder group calls for changes to board of directors

    McDonald’s shareholder group calls for changes to board of directors

    A McDonald’s Corp. shareholder group called for changes to the burger giant’s long-tenured board of directors, including Chairman Andrew McKenna, because of the company’s ongoing sales woes.

  • Dominos wants to take a slice out of McDonalds, KFC

    Dominos wants to take a slice out of McDonalds, KFC

    After doubling sales and earnings over the last few years, Domino’s Pizza is chasing a bigger share of the AUD11 billion (USD8.5b) fast-food market by taking sales from fried chicken outlets and drive-through outlets like McDonalds and Hungry Jacks.

    Not content with his market-leading 25 percent share of the Australian pizza market and a runner-up position in Japan, Domino’s chief executive Don Meij is going after consumers who would rather snack on KFC’s Original Recipe chicken or a McDonalds’ Big Mac than a Cheesy Crust Meat Lovers or Thin ‘n Crispy margherita.

    Domino’s has no plans to open drive-through outlets or branch into fried chicken or burgers. Rather, it plans to tap into the consumer attributes that drive consumption of these products, including the desire for instant gratification, by offering faster and easier ordering and delivery, cheaper menus and new toppings and crusts

  • McDonald’s names new CEO, CFO

    McDonald’s names new CEO, CFO

    McDonald’s said on Wednesday that Don Thompson will retire as President and CEO and as a member of the Board of Directors after nearly 25 years of service to the company, effective on 1 March. The Board has elected Steve Easterbrook to replace Thompson as President and CEO. Easterbrook was also elected to the Board of Directors, filling the vacancy created by Thompson.

    Prior to this promotion, Easterbrook was Senior Executive Vice President and Chief Brand Officer, leading McDonald’s efforts to elevate its marketing, advance menu innovation, and create an infrastructure for its digital initiatives. An accomplished, McDonald’s veteran, Easterbrook previously served in key leadership roles across the company’s global business, including president of McDonald’s Europe.

    In addition, Pete Bensen, Senior Executive Vice President and Chief Financial Officer, is promoted to the newly-created role of Chief Administrative Officer. In his new position reporting to Easterbrook, Bensen will oversee a number of functions supporting the company’s operations. Kevin Ozan, who currently serves as Senior Vice President and Corporate Controller, will succeed Bensen and is promoted to Executive Vice President and Chief Financial Officer.

    As CFO, Ozan will report to Bensen and will be responsible for managing the global financial organisation and leading the development and execution of the company’s fiscal strategies. Ozan brings broad financial experience and has held senior-level positions in the company’s Finance, Investor Relations and Accounting departments with assignments in both the US and European markets.

    The McDonald’s Board of Directors on Wednesday elected Bensen and Ozan to their respective positions, which will also be effective on 1 March.