McDonald's Corp (MCD)

Business Description

McDonald's Corporation is a global leader in the fast-food industry, primarily franchising and operating restaurants in over 100 countries . The company offers a locally relevant menu of quality food and beverages, including hamburgers, cheeseburgers, chicken sandwiches, fries, and breakfast items like the Egg McMuffin . McDonald's generates revenue from sales at company-operated restaurants and fees from franchised restaurants, which include rent and royalties . The heavily franchised business model ensures stable and predictable revenue streams .

U.S. Segment - Operates and franchises McDonald's restaurants in the United States, offering a menu tailored to American tastes.
International Operated Markets - Manages company-operated and franchised restaurants in various international markets, adapting the menu to local preferences.
International Developmental Licensed Markets & Corporate - Oversees restaurants in regions where McDonald's operates under developmental licenses or affiliate structures, focusing on strategic growth and corporate functions.
Menu Offerings - Features a diverse range of food items, including iconic products like the Big Mac, Quarter Pounder with Cheese, Filet-O-Fish, Chicken McNuggets, and McCafé beverages, with variations to suit local tastes.

Key Metrics

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Executive Team

Questions to Ask Management

Given the negative global comp sales in the third quarter and the challenging industry environment, what specific strategies are you implementing to drive sustainable guest count-led growth internationally, and how confident are you in their execution? , ,
With the recent E.coli incident affecting consumer confidence and causing negative sales trends in the U.S., what measures are you taking to restore trust and ensure food safety moving forward, and how might this impact your marketing and advertising strategies? , ,
The $5 Meal Deal has driven traffic and improved value perceptions in the U.S., but how sustainable is this approach for franchisee profitability, and do you anticipate needing to adjust your value offerings in response to margin pressures? , ,
In international markets like France and the U.K., you've faced challenges with value and affordability leading to negative comp sales; how will you address these issues, and can successful strategies from the U.S. be effectively applied internationally? , ,
Considering the contraction in the QSR industry and pressures on lower-income consumers, how do you plan to balance offering compelling value propositions with maintaining franchisee profitability, especially amid rising costs and potential margin impacts? , ,

Program Details	Program 1
Approval Date	December 31, 2019
End Date/Duration	N/A
Total additional amount	$15 billion
Remaining authorization amount	$3,968,932,958
Details	Return excess cash flow to shareholders through share repurchases and dividends.

Auditor

Name	Start Date	End Date	Reason for Change
Ernst & Young LLP	1964	Present	Current auditor

Name	Position	Start Date	Short Bio
Jonathan Banner	Executive Vice President – Chief Global Impact Officer	September 2022	Jonathan Banner has been the Executive Vice President – Chief Global Impact Officer at McDonald's since September 2022. Before joining McDonald's, he was Executive Vice President, Communications for PepsiCo, Inc. from May 2014 to August 2022 .
Ian Borden	Executive Vice President – Global Chief Financial Officer	September 2022	Ian Borden has been the Executive Vice President – Global Chief Financial Officer at McDonald's since September 2022. He previously served as President, International, and has been with the company for 29 years .
Heidi Capozzi	Executive Vice President – Global Chief People Officer	April 2020	Heidi Capozzi has been the Executive Vice President – Global Chief People Officer at McDonald's since April 2020. Prior to joining McDonald's, she was Senior Vice President of Human Resources for The Boeing Company .
Joseph Erlinger	Executive Vice President – President, McDonald's USA	November 2019	Joseph Erlinger has been the Executive Vice President – President, McDonald's USA since November 2019. He has been with the company for 21 years .
Morgan Flatley	Executive Vice President – Global Chief Marketing Officer and New Business Ventures	February 2023	Morgan Flatley has been the Executive Vice President – Global Chief Marketing Officer and New Business Ventures at McDonald's since February 2023. She previously held various marketing roles at McDonald's and PepsiCo, Inc. .
Marion Gross	Executive Vice President – Global Chief Supply Chain Officer	September 2022	Marion Gross has been the Executive Vice President – Global Chief Supply Chain Officer at McDonald's since September 2022. She has been with McDonald's for 30 years .
Catherine Hoovel	Senior Vice President – Corporate Controller	July 2021	Catherine Hoovel has been the Senior Vice President – Corporate Controller at McDonald's since July 2021. She has been with the company for 27 years and is set to retire on October 1, 2024 .
Christopher Kempczinski	President and Chief Executive Officer	November 2019	Christopher Kempczinski has been the President and Chief Executive Officer of McDonald's since November 2019. He joined McDonald's in 2015 and will assume the role of Chairman of the Board following the 2024 Annual Shareholders' Meeting .
Jill McDonald	Executive Vice President – President, International Operated Markets	September 2022	Jill McDonald has been the Executive Vice President and President of International Operated Markets at McDonald's since September 2022. She previously served as CEO for Costa Coffee and Managing Director for Marks and Spencer Group plc .
Desiree Ralls-Morrison	Executive Vice President – Global Chief Legal Officer and Secretary	April 2021	Desiree Ralls-Morrison has been the Executive Vice President, Global Chief Legal Officer, and Secretary at McDonald's since April 2021. She previously held similar roles at Boston Scientific Corporation and Boehringer Ingelheim USA Corporation .
Brian Rice	Executive Vice President – Global Chief Information Officer	August 2022	Brian Rice has been the Executive Vice President – Global Chief Information Officer at McDonald's since August 2022. He previously served as Executive Vice President, Chief Information Officer, and Global Business Services for Cardinal Health, Inc. .
Jo Sempels	Senior Vice President and President, International Developmental Licensed Markets	September 2022	Jo Sempels has been the Senior Vice President and President, International Developmental Licensed Markets at McDonald's since September 2022. He has been with the company for over 30 years .
Manu Steijaert	Executive Vice President – Global Chief Customer Officer	August 2021	Manu Steijaert has been the Executive Vice President – Global Chief Customer Officer at McDonald's since August 2021. He has been with the company for 21 years .
Miles White	Lead Independent Director	N/A	Miles White is the Lead Independent Director at McDonald's. He has extensive experience from his previous roles at Abbott Laboratories and has been on McDonald's Board for 14 years .
Mike Hsu	Nominated as Independent Director of the Board	Following 2024 Annual Shareholders' Meeting	Mike Hsu is a nominee for the Independent Director position on the Board of McDonald's. He is currently the Chairman and CEO of Kimberly-Clark Corporation, a role he has held since 2020 .