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Carroll School of Management

ceo2016-02-02

Stephen J. Easterbrook

President and CEO, McDonald's

"McDonald's President and CEO Stephen Easterbrook speaks to the Boston College Chief Executives Club"

"McDonald’s wouldn’t come to the top of people's lists as being one of the most innovative companies in the world," particularly during this time of technology-driven disruption, Stephen Easterbrook, president and chief executive officer of the McDonald’s Corporation, told the February 2 meeting of the Boston College Chief Executives Club. While McDonald's has made its mark in the past with major innovations such as the development and introduction of its drive-through restaurants, it has more recently been "showing some dangerous signs of aging." To address that, "we have tried to squeeze about four or five years' worth of change into two years," Easterbrook said. He pointed to successes such as McDonald's All Day Breakfast (which now accounts for some 20 percent of the corporation’s US business), and the introduction of Apple Pay at its American franchises. "Another nice recent example," Easterbrook noted, "was our commitment last year to shift the two billion eggs that we buy every year in the US to cage-free eggs." Boston Scientific Chairman and Chief Executive Officer Michael Mahoney introduced Easterbrook.

TAKEAWAYS

"We were a launch partner for Apple Pay…I didn’t see McDonald’s being on the forefront of this type of technology. I didn’t think they could move that quickly. Externally, is it a huge business builder? It will be over time…Internally [it is] a cultural signal to ourselves about what we can do when we adopt the right attitude." Transcript and Video about Apple Pay

"Size and scale for us has often been an excuse for moving slowly. I’m really, really keen and energized to try and demonstrate both within our business, and certainly to customers, that we can be as nimble and as agile if we put our mind to it." Transcript and Video about Home Delivery

"[On the changes to the Affordable Care Act:] We don’t know what we’ll have to replace it with, because you still want to take care of people…We’ll try and do the right thing by people, mindful that the majority of our business is run by independent owner/operators." Transcript and Video about the Affordable Care Act

PRESS COVERAGE

Boston Business Journal
"McDonald's CEO seems to like Trump almost as much as the president likes fast food"

Boston Globe, Talking Points
"Shaking things up"

Boston Herald, Business
"McDonald’s big cheese backs prez’s Labor pick"

Reuters, Business News
"McDonald's CEO sounds positive note on Trump's Labor nominee"

 

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