The CEO of McDonald’s Corporation (NYSE:MCD) is set to make a debut appearance before the stockholders at the firm’s annual general meeting that will be held on Thursday.
The debut will be particularly interesting considering the company has been experiencing some hard economic times and harsh competition from upcoming and old rivals. Additionally the firm has been under scrutiny due to the worker strikes with demand for more pay.
Steve Easterbrook acquired the prestigious position in two months ago and has already been working on some plans which he hopes will bring the business back on its feet. Part of his strategy is the proposal to introduce simplistic measures to the company’s commercial structure while at the same time employing costs reduction strategies.
The fast food company has roughly 36,000 operating locations all around the world but has been facing numerous struggles in its operations. Part of the hardships that Easterbrook has been trying to include the decreasing popularity of its menu. For a few months, McDonald’s menu has been making headlines as the company tries to make it more appealing.
The current generation of young people has grown more accustomed to healthier foods making McDonald’s Corporation (NYSE:MCD) the lesser preference. The fast food giant has been hard at work to come up with ways to resolve their problems. One of the latest strategies involved serving all-day breakfast foods. It even resulted in further changes in its menu by slashing some of the burgers from its menu.
The move was move was most likely a cost reduction strategy though the company claims it is one of the ways to free up its kitchen to accommodate better service.
Easterbrook has been under the spotlight as the protests demand for the minimum rate of pay to be raised to $15 per hour. The CEO is facing worries as the strike situation makes the situation more difficult for the recovery process. The much-anticipated meeting will most likely involve some new changes to follow after that.