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It’s a new month and time for a new start at McDonald’s.
Sunday is the first official day on the job for the company’s next CEO, Steve Easterbrook, 47. A longtime McDonald’s executive, the British native has been with the company since 1993, except for two years when he ran other restaurants in the U.K. He takes over for Don Thompson.
Easterbrook already has a solid sense of what he believes the world’s largest restaurant company needs to fix after a string of disappointing quarters. In his most recent role as chief brand officer, he oversaw marketing, menu changes and digital efforts.
Oak Brook-based McDonald’s is trying to win back everyone from moms to millennials with new advertising and frankness about its food. Still, issues ranging from the healthfulness of its menu to the wages of fast-food workers persist.
Easterbrook isn’t the only one getting a new space in McDonald’s C-suite Sunday.
Pete Bensen, McDonald’s CFO since 2008, starts in the newly created role of chief administrative officer, while Kevin Ozan, who had been corporate controller, becomes CFO.
Easterbrook made a prediction of his own on Twitter weeks before his promotion was announced:
It's New Year's Eve, and that was 2014! Here's to 2015 – and the many good things it'll bring
— Steve Easterbrook (@SteveEasterbrk) December 31, 2014
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Time will tell. As Easterbrook and McDonald’s look forward to 2015, we look back at how McDonald’s has fared under his predecessors.
-Jessica Wohl
Grading recent CEOs Click a button for more
Jack Greenberg April 30, 1998, to Dec. 31, 2002
Launched diversification strategy, adding chains such as Boston Market and Chipotle. Introduced Dollar Menu and a costly kitchen system. His tenure ended with the company’s first-ever quarterly loss.
Weekly stock price
Jim Cantalupo Jan. 1, 2003, to April 19, 2004
Results rebounded under Cantalupo, helped by new products such as salads and McGriddles breakfast sandwiches. Cantalupo died after a heart attack while in Florida for a meeting of franchise operators.
Weekly stock price
Charlie Bell April 19, 2004, to Nov. 22, 2004
Got his start with a part-time job in Australia, at age 15. As CEO, Bell worked on improving service, cleanliness and look of the restaurants. Bell stepped down as he was battling cancer. He died two months later.
Weekly stock price
Jim Skinner Nov. 22, 2004, to June 30, 2012
Spearheaded the company’s Plan to Win, an agenda that established a path to bring the burger giant back to profitable growth with a renewed focus on customers and more disciplined operations.
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Weekly stock price
Don Thompson July 1, 2012, to Feb. 28, 2015
Thompson’s tenure was marked by sales declines. Commodity costs and currency were also headwinds. The “Create Your Taste” kiosk system was started and the company worked on updating restaurants.
Weekly stock price
Around the world Click a button for more
United States
Branding refresh:
New advertising and brand campaigns launched late last year and early this year tried to bolster sluggish sales in the U.S.
Number of stores
Scale in thousands
Revenue
Scale in billions
Americas and other nations
French fry shortage:
More than 100 of Venezuela’s outlets experienced a french fry shortage. They served deep-fried arepa flatbread or yuca instead.
Number of stores
Scale in thousands
Revenue
Scale in billions
Europe
Tax issues:
A coalition of European and American trade unions released a report Wednesday, accusing McDonald’s European operations of avoiding more than 1 billion euros in corporate taxes.
Store closures
In Russia, some McDonald’s locations were forced to close temporarily after mass unscheduled inspections by Russia’s food safety watchdog.
Number of stores
Scale in thousands
Revenue
Scale in billions
Asia, Pacific, Middle East and Africa
Food safety:
After a food supplier was shut down in China, McDonald’s said it immediately stopped using the supplier, Shanghai Husi Food, and had switched to alternatives.
Number of stores
Scale in thousands
Revenue
Scale in billions
Sources: U.S. Securities and Exchange Commission, McDonald’s, FactSet, Tribune reporting
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