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4 Profit Marpin - Cuticinititis MCDONALD'S IN 2019* On November 3, 2019, the MeDonald's board of directors experiences for our customers," former CEO Steve dismissed Steve Easterbrook over violations of company Easterbrook said in a statement. 2. policy regarding a relationship with an employee and _MeDonald's has been trying to attract more customers named Chris Kempczinski the new CEO. Kempezinski had to its restaurants by offering more customized products that experience at Kraft Foods and PepsiCo prior to joining are also healthier. It has removed high fructose corn syrup McDonald's in 2015, most recently as president of the USA from its buns, changed from the use of liquid margarine to business unit.' real butter, decided to use chicken that has been raised In March 2019, McDonald's, the largest restaurant without antibiotics, and to make use of cage-free eggs. Mike chain, announced it will acquire artificial-intelligence Andres, former president of MeDonald's USA explained startup Dynamic Yield, a company focused on personalize. Why the firm has decided to make these changes: "Why take tion and decision logic technology. Access to this technol- a position to defend them if consumers are saying they ogy will allow the firm to update instantaneously its don't want them?"-1. drive-through menus based on factors such as time of day. These changes are expected to address some of chal. weather, and trending menu items. McDonald's plans to lenges that McDonald's has been facing in many markets, roll out the updated drive-through menus across the United including in the United States, where it has almost 15,000 States during the year. "With this acquisition, we're expand. of its 38,000 mostly franchised restaurants. It has lost a lot ing both our ability to increase the role technology and data of ground with consumers, especially millennials, who are will play in our future and the speed with which we'll able defecting to traditional competitors like Burger King and to implement our vision of ereating more personalized Wendy's as well as to new designer burger outlets such as Five Guys and Shake Shack. Changing tastes are also re- - Case prepared by lamal Shamsie, Mistigan Siate Uinuersity, with the sponsible for the loss of customers that are lining up at fastassisance of Professor Alan B. Eisser, Pace Univeniby. Murerial has beee casual chains such as Chipotle Mexican Grill and Panera Bread, which offer customized ordering and fresh ingrediCopright o 2019 lamal Shemsit and Alen B. Einet. ents (see Exhibits 1 to 4). EXHIBIT 1 Income Statement (s millions) Source: Anneal Report of McDoealfs Cirporibion 2018 EXHIBIT 2 Balance Sheet (s miltsons) EXHIBIT 5 McDonald's Milestones 1948 Brothers Richard and Maurice McDonak open the first restaurant in San Bernadino, Californis, that sells hamburgers, fres, and milkshakes. 1955 Ray A. Kroc, 52, opens his first McDonald's in Des Plaines, lllinois. Kroc, a disterbutor of milkshake mixers, figures he can sall a bunde of them it he franchises the McDonald's business and install his mieers in the new stores 1961 Six years later, Kroc buys out the McDonald brothers tar $2.7 milion 1963 Ronald McDonald makes his debut as corporate spokesclown using future N8C.TV weatherman Wilard Scolt. During the yeac, the company also sells its 1 billionth burger. 1965 Mcoonald's stock goes public at $22.50 a share. It will split 12 times in the nea 35 years. 1967 The first McDonald's restaurant outside the U.S. opens in Richmond, British Columbis. Todixy there are 31,108 McDonalds in 118 countries. 1968 The Big Mac, the first extension of McDonakd's basic burger, makes its debut and is zo immediate hit. 1972. McDonald's switches to the frozen variety for its successful Fiench fries. 1974 FredL. Tumer succeeds Kroc as CEO. In the midst of a recession, the minimum wage rises to 52 per hour, a big cost increase for. McDonald's, which is built around a model of young. low-wage workers. 1975 The first drive-through window is opened in Sierra Vista, Arizona. 1979 McDonald's responds to the needs of working women by introducing Happy Meals. A burger, some thies, a soda, and a toy give working moms a break. 1987 Michaci R. Ouinlan becomes chief executive. 1991 Responding to the public's desire for healthier foods, McDonald's introduces the low-lat Mclean Deluae burgec it flops and is withdrawn from the market. Over the next few years, the chain wil stumble several times trying to spruce up ts menu. 1992 The company sells its 90 billionth burger, and stops counting. 1996 In order to attract more adut customers, the company launches its Arch Deluxe, a "grown up" burger with an idionyncrasic taste. Like the low fat burget, it also felts flat. 1997 McDonald's launches Campaign 55, which cuts the cast of a Big Mac to 50.55 . It is a response to discounting by Burger King and Taco Bell. The move, which prefigures similar price wars in 2002, is widely considered a fallure. 1998 Jack M. Greenberg becomes McDonald's fourth chief executive. A 16 -year compary veseran, he vows to spruce ap the restaurants and their mena. 1999 For the first time, sales from international operations cutstrip domestic revenues. In search of other concepts, the company. acquires Aroma Cafe, Chipotle, Donatos, and, later, Boston Market. 2000 NcDonald's sales in the U.S. peak at ant average of $1.6 mililion annually per restaurant it is, howeves, still more than at agy other fastfood chain. 2001 Subway surpasses McDonald's as the fastfood chain with the most U.S. outiets. At the end of the yoar it had 13.247 atores. 148 more than McDonald's. 2002 McDonald's posts its firstever quateny loss, of $343.8 milion. The stock drops to around $1350, down 40os trom five yeacs aga. 2003 James R. Cantalupo retums to McDonald's in January as CEO. He inmedately pulls back from the company's 1015% forecast for per-share earnings growh. 2004 Charles H. Bell takes over the firm after the sudden death of Cantalupo. He states he will continue with the stretgies tar have been developed by his predecessot 2005 Jim Skinner takes over as CEO after Bell announces retirement for health reasons: 2005 McDonalds lsunches specialty beverages, including cotice based drinks. 2008 McDonalds plans to add McCates to each of its outlets. 7012. Don Thompson succeeds SWinner as CEO of the chain. 2015 Thompson resigns because at dedining performance and is replaced ty Sleve Easterbrook, the fimis s chief branding ektces 2017 Ciobai MeDeliwery Das is celebrised on Jaly 26 to uipport the globall launch of Movelvery wath UbertaT5. 2019 Siene Fasterbook is reploced due to poorjudgenent is a personal relstionship with an empiloyee and Chrs Nempermak. presideet of the USA businets unit is nened CEO. 4 Profit Marpin - Cuticinititis MCDONALD'S IN 2019* On November 3, 2019, the MeDonald's board of directors experiences for our customers," former CEO Steve dismissed Steve Easterbrook over violations of company Easterbrook said in a statement. 2. policy regarding a relationship with an employee and _MeDonald's has been trying to attract more customers named Chris Kempczinski the new CEO. Kempezinski had to its restaurants by offering more customized products that experience at Kraft Foods and PepsiCo prior to joining are also healthier. It has removed high fructose corn syrup McDonald's in 2015, most recently as president of the USA from its buns, changed from the use of liquid margarine to business unit.' real butter, decided to use chicken that has been raised In March 2019, McDonald's, the largest restaurant without antibiotics, and to make use of cage-free eggs. Mike chain, announced it will acquire artificial-intelligence Andres, former president of MeDonald's USA explained startup Dynamic Yield, a company focused on personalize. Why the firm has decided to make these changes: "Why take tion and decision logic technology. Access to this technol- a position to defend them if consumers are saying they ogy will allow the firm to update instantaneously its don't want them?"-1. drive-through menus based on factors such as time of day. These changes are expected to address some of chal. weather, and trending menu items. McDonald's plans to lenges that McDonald's has been facing in many markets, roll out the updated drive-through menus across the United including in the United States, where it has almost 15,000 States during the year. "With this acquisition, we're expand. of its 38,000 mostly franchised restaurants. It has lost a lot ing both our ability to increase the role technology and data of ground with consumers, especially millennials, who are will play in our future and the speed with which we'll able defecting to traditional competitors like Burger King and to implement our vision of ereating more personalized Wendy's as well as to new designer burger outlets such as Five Guys and Shake Shack. Changing tastes are also re- - Case prepared by lamal Shamsie, Mistigan Siate Uinuersity, with the sponsible for the loss of customers that are lining up at fastassisance of Professor Alan B. Eisser, Pace Univeniby. Murerial has beee casual chains such as Chipotle Mexican Grill and Panera Bread, which offer customized ordering and fresh ingrediCopright o 2019 lamal Shemsit and Alen B. Einet. ents (see Exhibits 1 to 4). EXHIBIT 1 Income Statement (s millions) Source: Anneal Report of McDoealfs Cirporibion 2018 EXHIBIT 2 Balance Sheet (s miltsons) EXHIBIT 5 McDonald's Milestones 1948 Brothers Richard and Maurice McDonak open the first restaurant in San Bernadino, Californis, that sells hamburgers, fres, and milkshakes. 1955 Ray A. Kroc, 52, opens his first McDonald's in Des Plaines, lllinois. Kroc, a disterbutor of milkshake mixers, figures he can sall a bunde of them it he franchises the McDonald's business and install his mieers in the new stores 1961 Six years later, Kroc buys out the McDonald brothers tar $2.7 milion 1963 Ronald McDonald makes his debut as corporate spokesclown using future N8C.TV weatherman Wilard Scolt. During the yeac, the company also sells its 1 billionth burger. 1965 Mcoonald's stock goes public at $22.50 a share. It will split 12 times in the nea 35 years. 1967 The first McDonald's restaurant outside the U.S. opens in Richmond, British Columbis. Todixy there are 31,108 McDonalds in 118 countries. 1968 The Big Mac, the first extension of McDonakd's basic burger, makes its debut and is zo immediate hit. 1972. McDonald's switches to the frozen variety for its successful Fiench fries. 1974 FredL. Tumer succeeds Kroc as CEO. In the midst of a recession, the minimum wage rises to 52 per hour, a big cost increase for. McDonald's, which is built around a model of young. low-wage workers. 1975 The first drive-through window is opened in Sierra Vista, Arizona. 1979 McDonald's responds to the needs of working women by introducing Happy Meals. A burger, some thies, a soda, and a toy give working moms a break. 1987 Michaci R. Ouinlan becomes chief executive. 1991 Responding to the public's desire for healthier foods, McDonald's introduces the low-lat Mclean Deluae burgec it flops and is withdrawn from the market. Over the next few years, the chain wil stumble several times trying to spruce up ts menu. 1992 The company sells its 90 billionth burger, and stops counting. 1996 In order to attract more adut customers, the company launches its Arch Deluxe, a "grown up" burger with an idionyncrasic taste. Like the low fat burget, it also felts flat. 1997 McDonald's launches Campaign 55, which cuts the cast of a Big Mac to 50.55 . It is a response to discounting by Burger King and Taco Bell. The move, which prefigures similar price wars in 2002, is widely considered a fallure. 1998 Jack M. Greenberg becomes McDonald's fourth chief executive. A 16 -year compary veseran, he vows to spruce ap the restaurants and their mena. 1999 For the first time, sales from international operations cutstrip domestic revenues. In search of other concepts, the company. acquires Aroma Cafe, Chipotle, Donatos, and, later, Boston Market. 2000 NcDonald's sales in the U.S. peak at ant average of $1.6 mililion annually per restaurant it is, howeves, still more than at agy other fastfood chain. 2001 Subway surpasses McDonald's as the fastfood chain with the most U.S. outiets. At the end of the yoar it had 13.247 atores. 148 more than McDonald's. 2002 McDonald's posts its firstever quateny loss, of $343.8 milion. The stock drops to around $1350, down 40os trom five yeacs aga. 2003 James R. Cantalupo retums to McDonald's in January as CEO. He inmedately pulls back from the company's 1015% forecast for per-share earnings growh. 2004 Charles H. Bell takes over the firm after the sudden death of Cantalupo. He states he will continue with the stretgies tar have been developed by his predecessot 2005 Jim Skinner takes over as CEO after Bell announces retirement for health reasons: 2005 McDonalds lsunches specialty beverages, including cotice based drinks. 2008 McDonalds plans to add McCates to each of its outlets. 7012. Don Thompson succeeds SWinner as CEO of the chain. 2015 Thompson resigns because at dedining performance and is replaced ty Sleve Easterbrook, the fimis s chief branding ektces 2017 Ciobai MeDeliwery Das is celebrised on Jaly 26 to uipport the globall launch of Movelvery wath UbertaT5. 2019 Siene Fasterbook is reploced due to poorjudgenent is a personal relstionship with an empiloyee and Chrs Nempermak. presideet of the USA businets unit is nened CEO