The McDonald’s is lagging behind in its fast food business due to its competitors like Burger King. Steve Easterbrook, Chief Executive Officer of the McDonald’s Corp is planning on large scale restructuring of the United States based fast food giant. World’s most popular brand is working on a detailed blue print of it future strategy.
The biggest challenge to McDonald’s is changing tastes of contemporary consumers. Therefore, other fast food chains are attracting more customers than the company. Customer visits to an average McDonald’s outlet have been dipping from last two years. The present menu offered by the company is very complex and creating problems for the brand. McDonald’s has been working hard to give a makeover to its name and the brand. In a December last year, the company introduced many new items and cancelled many dishes from its traditional menu. Minor sandwich variations were also introduced in recent months. The grilled chicken now uses fewer antibiotics.
The McDonald’s owns more than 36,200 locations across the world. The CEO Easterbrook has intentions of converting the brand into modern, progressive burger company. Company officials have informed that it plans to double the closing rate this year for less profitable and loss creating locations. If this comes into force, the company will have to close around 700 outlets. The figures for restaurant count growth for the company aren’t available.
The investors of the brand are very happy about the moves taken by the new CEO and hope that this will be a catalyst for a positive change.