McDonald’s, the single largest purchaser of Irish beef by volume, purchasing 40,000 tonnes annually, has suffered with weak sales under CEO Don Thompson through his two and half years at the top.
Last week, Steve Easterbrook was announced as his replacement. Easterbrook had been responsible for the company’s marketing, menu innovation and digital initiatives prior 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.
McDonald’s has been struggling to keep apace 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. McDonald’s doesn’t quite fit that image in people’s minds, even though it has some of the most stringent quality controls in the business.
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Will he be able to move the world’s largest food chain forward? The stock markets seem to think so, as McDonald’s shares, which have been flat over Thompson’s time, rose 5% over the past week to close at $93.92 on Tuesday.
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McDonald’s, the single largest purchaser of Irish beef by volume, purchasing 40,000 tonnes annually, has suffered with weak sales under CEO Don Thompson through his two and half years at the top.
Last week, Steve Easterbrook was announced as his replacement. Easterbrook had been responsible for the company’s marketing, menu innovation and digital initiatives prior 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.
McDonald’s has been struggling to keep apace 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. McDonald’s doesn’t quite fit that image in people’s minds, even though it has some of the most stringent quality controls in the business.
Will he be able to move the world’s largest food chain forward? The stock markets seem to think so, as McDonald’s shares, which have been flat over Thompson’s time, rose 5% over the past week to close at $93.92 on Tuesday.
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