Don Thompson with Minister for Agriculture Simon Coveney when he visited Ireland.
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McDonalds, the single largest purchaser of Irish beef by volume purchasing 40,000 tonnes of Irish beef, annually has suffered with weak sales under CEO Don Thompson through his two and half years at the top.
Steve Easterbrook is set to be his replacement. Easterbrook has been responsible for McDonald's marketing, menu innovation and digital initiatives pior to this promotion. He has over 25 years with the chain and at one stage was president of McDonald's Europe. He has a high tolerance for risk and new ideas that could make him well-suited for the challenge. Many credit him with reviving McDonald’s British business when he ran it in the last decade.
Struggle
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McDonalds has been struggling to keep up with consumers changing tastes. There are massive shifts taking place in the US restaurant business in recent years as consumers demand food that is perceived as healthier and made with fresher, natural ingredients. McDonalds doesn’t quite fit that image in people’s minds, even though it has some of the most stringent quality controls in the business.
The question remains will he be able to move the world’s largest food chain with over 36,000 restaurants worldwide forward. The stock markets seem to think so, as McDonald’s shares which have been basically flat over Thompson’s time, rose 5% yesterday to close at $93.27
This could bode well for Irish farmers, as any uplift in sales that come should boost demand as one in five burgers eaten in McDonald’s across Europe is made from Irish beef.
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McDonalds, the single largest purchaser of Irish beef by volume purchasing 40,000 tonnes of Irish beef, annually has suffered with weak sales under CEO Don Thompson through his two and half years at the top.
Steve Easterbrook is set to be his replacement. Easterbrook has been responsible for McDonald's marketing, menu innovation and digital initiatives pior to this promotion. He has over 25 years with the chain and at one stage was president of McDonald's Europe. He has a high tolerance for risk and new ideas that could make him well-suited for the challenge. Many credit him with reviving McDonald’s British business when he ran it in the last decade.
Struggle
McDonalds has been struggling to keep up with consumers changing tastes. There are massive shifts taking place in the US restaurant business in recent years as consumers demand food that is perceived as healthier and made with fresher, natural ingredients. McDonalds doesn’t quite fit that image in people’s minds, even though it has some of the most stringent quality controls in the business.
The question remains will he be able to move the world’s largest food chain with over 36,000 restaurants worldwide forward. The stock markets seem to think so, as McDonald’s shares which have been basically flat over Thompson’s time, rose 5% yesterday to close at $93.27
This could bode well for Irish farmers, as any uplift in sales that come should boost demand as one in five burgers eaten in McDonald’s across Europe is made from Irish beef.
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