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McDonald’s shuffles its executive team

Ian Borden was named CFO as Kevin Ozan is promoted to oversee strategy before he retires next year. Marion Gross was named chief supply chain officer.


McDonald’s is toughening its franchise ownership standards

The burger giant has “fine-tuned” rules for renewing franchise agreements as it works to bring new operators into the system. Operators say the changes are an "overreach."

A BTIG analyst says the McPlant burger has been underwhelming in tests and speculates that it is unlikely to make its national debut this year.

The company said it has engaged a third party to conduct the assessment, appearing to stop short of the audit shareholders narrowly voted to approve last month.

All 12 of the company’s nominees won re-election to the board. The investor’s two nominees received about 1% of the vote. Shareholders reportedly approved a measure requesting a civil rights audit.

Working Lunch: Chuck Edwards beat the incumbent representative of his district in last week's Republican primary, putting him in good stead to be elected in November's general election.

Alexander Govor will acquire the company’s entire portfolio, McDonald's said. He has been an operator with the chain in Siberia since 2015.

The Bottom Line: The burger giant has flourished in international markets even as its U.S. growth slowed. But its $1.4 billion decision to pull out of the market demonstrates the risk of global expansion.

A major proxy advisory firm endorsed the company’s directors in its upcoming board election, saying the investor is “economically divorced from the potential impacts of its proposals.”

A record 1,700 restaurants changed hands last year and more than a quarter of franchisee units have either closed or been sold since 2019.

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