In this file:
· McDonald’s downgraded after CEO Easterbrook ouster over concerns about stock disruption
· McDonald’s fires CEO Steve Easterbrook, citing employee relationship
· McDonald’s ditches posh Signature Collection range after 'poor sales'
· McDonald’s apologises for ‘Sundae Bloody Sundae’ Halloween promotion
· They're back! McDonald's bringing back iconic Happy Meal toys from the past 40 years
McDonald’s downgraded after CEO Easterbrook ouster over concerns about stock disruption
Piper Jaffray recommends investors turn to Chipotle
By Tonya Garcia, MarketWatch
Nov 4, 2019
McDonald’s Corp. was downgraded to neutral from overweight at Piper Jaffray over concerns that the exit of Chief Executive Steve Easterbrook will be unsettling for investors and pressure the stock.
Piper Jaffray cut its stock price target to $195 from $224.
McDonald’s shares were down 2% in Monday premarket trading.
McDonald’s announced over the weekend that Easterbrook was leaving the fast-food giant after violating company policy by having a consensual relationship with an employee.
“Given the values of the company, I agree with the board that it is time for me to move on,” Easterbrook said in an email, according to The Wall Street Journal.
The board named Chris Kempczinski, president of McDonald’s USA, to the CEO position. Joe Erlinger, previously the president of the company’s international operations, will succeed Kempczinski domestically.
“Our experience leads us to take a more cautionary view noting the potential lack of momentum and time involved in formalizing a new team,” Piper Jaffray wrote.
Analysts don’t think the company strategy is at great risk, but they are acting with caution.
“Our change in opinion in no way reflects the company’s ability to dominate in terms of global market scale, the effectiveness of its leadership team, or the effort behind its franchise network,” the Piper Jaffray note said...
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McDonald’s fires CEO Steve Easterbrook, citing employee relationship
Burger giant names Chris Kempczinski as successor in president, CEO role
Ron Ruggless & Nancy Luna, Nation's Restaurant News
Nov 03, 2019
McDonald's Corp. said Sunday that it had “separated” CEO Steve Easterbrook from the company for violating policy and demonstrating “poor judgment involving a recent consensual relationship with an employee.”
In an email sent to McDonald’s employees, Easterbrook admitted to breaking a company policy by becoming involved with an employee. "This was a mistake. Given the values of the company, I agree with the Board that it is time for me to move on. Beyond this, I hope you can respect my desire to maintain my privacy."
The Chicago-based burger giant said its board named Chris Kempczinski, most recently president of McDonald's USA, as CEO and president, effectively immediately. Kempczinski has also been elected to McDonald's board of directors. Joe Erlinger, most recently president of International Operated Markets, replaces Kempczinski as president of McDonald’s USA.
Easterbrook had served as CEO since January 2015.
Under his leadership, McDonald’s became a more nimble and agile company. His turnaround plan involved streamlining operations, pursuing industry leading innovation and improving the quality of the menu. The biggest menu moves made by Easterbrook included adding all-day breakfast and introducing fresh ground beef patties on the brand's legacy Quarter Pounder.
"It’s up to us to make the big moves to catch people’s attention,” he told NRN last year when he was named a 2018 Golden Chain winner.
Kempczinski is tasked with...
McDonald’s ditches posh Signature Collection range after 'poor sales'
The fast-food chain's Signature Collection, which feature more expensive burgers, is no longer on the menu
By Sam Truelove, Mirror (UK)
2 NOV 2019
McDonald's has scrapped its range of posh burgers because of "poor sales".
Customers can no longer purchase the fast-food chain's Signature Collection after they were removed from the menu.
The premium burgers featured a thicker beef patty made from 100% British and Irish beef and was available in three flavours - The Classic, The BBQ and The Spicy each served in a brioche-style bun.
They were trialled in a number of restaurants before being relayed out across the UK in 2015.
They were developed with the help of chefs who had put their cooking skills to the test in Michelin-starred restaurants.
The three different flavours came at a higher price - £4.69 for an individual burger and £6.19 for a meal - and featured "higher quality ingredients" and served in a brioche-style bun.
In comparison, a Big Mac costs £3.19 while a plain hamburger is just 89p.
When the Signature Collection was launched McDonald's hoped it would give customers the chance to upgrade their burgers to something a bit more 'premium'.
According to The Sun , the decision to scrap the collection was taken in August due to "poor sales"...
McDonald’s apologises for ‘Sundae Bloody Sundae’ Halloween promotion
Jimmy Nsubuga, Metro (UK)
1 Nov 2019
McDonald’s has apologised after unwittingly referencing a 1972 atrocity in Northern Ireland to sell ice-creams in Portugal.
The fast-food chain was pulled up by an Irish customer after they spotted an advert that said ‘Sundae Bloody Sundae’.
The angry user posted the ad along with the caption: ‘Portugal is cancelled.’
‘Bloody Sunday’ was the name given to one of the most violent incidents of the Troubles in Northern Ireland that saw 14 people killed when British soldiers fired on unarmed protestors.
‘Sunday Bloody Sunday’ was also the title of a song from the legendary Irish rock group U2, who referenced the tragedy.
McDonald’s was quick to apologise after the ad was widely criticised on social media.
A spokeswoman said:
They're back! McDonald's bringing back iconic Happy Meal toys from the past 40 years
By: WEWS-TV Cleveland
via 10 News San Diego - Nov 01, 2019
No matter how old you are, you know the best part of a Happy Meal isn't the fries — it's the prize inside.
In honor of the 40th anniversary of the first-ever McDonald’s Happy Meal, the fast food chain is taking a full trip down memory lane by bringing back nostalgic toys spanning the past four decades.
Fifteen toys, some you’ll likely recognize immediately, will appear in the limited edition Surprise Happy Meal, with two additional toys available exclusively in the U.S.
The limited release toys will be available November 7-11, while supplies last.
The official lineup of toys to the Surprise Happy Meal includes: