$46.8B Record U.S. agency revenue in 2015
McDonald's Corp. said long-time restaurant executive Mike Andres will take over as president of the chain's U.S. operations as Jeff Stratton retires amid increased domestic competition.
Mr. Stratton, 58, will retire on Oct. 15 after 41 years with the brand, the Oak Brook, Illinois-based company said today in a statement. Mr. Andres, 56, has worked in multiple roles at McDonald's, including leading its central U.S. unit and the company's former Boston Market subsidiary. He has been chief executive officer of Logan's Roadhouse Inc. since early last year.
This is the second senior executive announcement from McDonald's this week, after it named Julia Vander Ploeg as its first VP of digital in the U.S. as part of its continuing efforts to strengthen its digital presence.
The world's biggest restaurant chain, which gets almost a third of its revenue from domestic locations, is under intense pressure from Wall Street to improve sales. It has struggled to attract Americans this year as new chains lure away customers and established rivals introduce cheaper food deals.
What started as decelerating sales in early 2012 has turned into a drop that could extend into next year. In the second quarter of this year, U.S. sales in stores that have been open for at least a year slipped 1.5% from a year earlier, following a 1.7% decline in the first quarter. Earlier this month it reported global comparable sales in July dropped 2.5% and U.S. comparable sales fell 3.2%.
Amid those declines, McDonald's has been vocal in the last nine months about its need to improve operations and customer service as well as marketing, particularly in digital.
~ Bloomberg News and Ad Age staff ~