McDonald & # 39; s CEO Chris Kempczinski
Shannon Stapleton | Reuters
McDonald's new CEO, Chris Kempczinski, said Monday that meetings with the company's top management and CEOs have "confirmed" his confidence in the management and the path it is on. However, he asks employees for feedback.
"Change also provides opportunities for discussion, introspection and ultimately renewal," Kempczinski said in a message to employees obtained by CNBC. "So when I start this journey as CEO, I want to hear from you."
Kempczinski took over as CEO of the world's largest fast-food chain earlier in November after his predecessor Steve Easterbrook was fired for having an affair with an employee. Kempczinski previously served as head of the company's US division, where he worked closely with Easterbrook to turn business into the company's home market.
Kempczinski said in his statement to employees that he spent last week with McDonald's senior management team and CEOs from the largest global markets to "sharpen our implementation plans for 2020." He said they believe the company is "on the right path."
That said, he is looking to hear from the company's workforce in upcoming visits and said he will share some of the feedback he received in January. [1
While president of McDonald's United States, the company's relationship with US franchisees hit a low point as expensive renovations weighed on their profitability, leading to the creation of an independent franchisor group. The company's relationship with franchisees has improved since then, following some concessions from management.
McDonald's is also facing increased scrutiny for its handling of sexual harassment experienced by restaurant-level workers. Michigan workers recently filed a class action lawsuit accusing the company of creating a toxic work culture.
McDonald's stock has a market capitalization of $ 150 billion, and shares have risen more than 9% since the start of the year. Since Kempczinski took the reins, the stock is less than 1%.
Read full note:
Dear Global McFamily,
In my conversations with many of you so far, I have been humbled by your encouragement and support. One thing has stood out to me from these interactions: the pride and passion that all three legs of the stool feel toward our business, our brand and our values. In my opinion, McDonald's may be the best example of opportunity and empowerment in the world, and not anyone.
The number of lives we touch would be beyond the imagination of even Ray and Fred, yet the features that define McDonald's today will be far too familiar. It had been the boldest of dreams to hope that McDonald's would serve more than 65 million customers every day in over 100 countries, in almost every language spoken around the globe. And yet, it would be so familiar to know that our people are as committed as ever to serving our customers, that our brand continues to be a beacon for fun, family and accessibility, and that opportunity and empowerment are still the bedrock values of our system. Through change, McDonald's goes seamlessly – and that's because of the people. So for that I want to say thank you.
Last week, I met with your senior leadership team and CEOs from our largest markets around the world to sharpen our execution plans for 2020. It confirmed my confidence in management that we have the relevance and strength of the Velocity Growth Plan, and our shared belief that we are on the right track as we enter a new year.
Change also provides opportunities for discussion, introspection and ultimately renewal. So when I start this journey as CEO, I want to hear from you. Some of it will come in my upcoming visits and touch points where I get the chance to hear what you think – but for those I don't come to right away, and for those I haven't talked to yet, here's my invitation. Now share something that makes you proud to be a part of McDonald's and something I can do as CEO to make you even more proud.
I want to gather the feedback and share some of what I heard in January. In the meantime, I am very grateful for everything you do for McDonalds to help continue the legacy.