McDonald's is in the middle of a growth plan that includes new investments in its digital strategy and marketing as it looks to keep up with consumers. However, its board has been under pressure from a number of shareholders and franchisees
Customers wait to order food at a McDonalds fast food restaurant on July 26, 2022 in Miami, Florida. The McDonald's company reported U.S. same-store sales rose 3.7%, while international sales rose 9.7% during the most recent quarter. However, it also said that total revenue fell 3% to $5.72 billion; it attributed the weakness to slowing demand in China.
Image: Joe Raedle/Getty Images
McDonald’s announced a shake-up of its board of directors Monday as the company faces the effects of inflation, war in Europe and tensions with franchisees.
Sheila Penrose will retire after more than 15 years, and three new directors will join: Anthony Capuano of Marriott International, Jennifer Taubert of Johnson & Johnson and Amy Weaver of Salesforce.
McDonald’s, which operates nearly 40,000 restaurants worldwide, is in the middle of a growth plan that it has called “accelerating the arches” and includes new investments in its digital strategy and marketing as it looks to keep up with consumers. The chain’s sales topped analysts’ expectations in the most recent quarter, but its board has been under pressure from a number of shareholders and franchisees. Its CEO, Chris Kempczinski, warned that the company is staring down “weak consumer sentiment around the world and the possibility of a global recession.”
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