Several Top Executives At McDonald’s Corp To Step Down

According to a recent report by the Wall Street Journal, several executives at McDonald’s Corp will be stepping down soon. These exits are being linked to flagging sales across the world.

The McDonald’s Slump

The slump in sales is being attributed to competitors as well as more and more consumers favouring healthier food options.

Since May 2016, the McDonald’s stock has gone down by 13%. Back in 2014, sales in US locations of McDonald’s, which make up 40% of the corporations outlets fell.

As a response to the decline, McDonald’s CEO Steve Easterbrook conceptualised a turnaround plan including closing down 3,5000 restaurants by the end of 2018 as well as increasing the percentage of franchises across the world from 81% to 90%.

Easterborok also planned to change operations in the restaurants themselves by serving all day breakfasts and improving order accuracy.

Stepping Down

As a result of the decline in sales, senior executives who will be stepping down include McDonald’s chief field officer, Karen King who oversees over 14,000 JS locations and Erik Hess, the senior vice president of customer experience.

Additionally, Mike Andres, the president of US operations will be retiring as will Pete Bensen, the chief administrative officer.