It's been a difficult few years for McDonald's, with sales falling. Now the company is unveiling a plan to address what CEO Steve Easterbrook calls the "urgent need to reset this business," CNBC reports. "The reality is our recent performance has been poor. The numbers don't lie," Easterbrook said today. A key part of the plan is to boost the company's percentage of franchise stores. Right now, 81% of stores are franchises; that will climb to 90% by 2018. The company will also divide itself into four sections: one for the US, one for international lead markets, another for high-growth markets, and a final one for foundational markets.
The company aims to save $300 million per year by 2017 through the restructuring and more careful spending, CNNMoney reports. But the fixes aren't all administrative. McDonald's is also looking to serve better food, CNNMoney notes, citing examples like its sirloin burger. Easterbrook is touting a "modern, progressive burger company," though he acknowledges that the process will be "bumpy and uneven." Will it all work? Analysts tell the Chicago Tribune they would have liked to see the company announce more risk-taking. "I don't look at anything they've discussed today as truly groundbreaking, and more of just catching up with a lot of things their peers have done," says one. (The company has already cut seven sandwiches from its changing menu.)