USA/CHINA: McDonalds appoints new man in China
Fastfood company McDonald's has appointed a new new head of operations in China, according to the Chicago Sun-Times newspaper.
Guy Russo is to serve as international relationship partner for greater China, with responsibility for Hong Kong and Taiwan as well as the mainland, according to Anna Rozenich, a McDonald's spokeswoman. Russo was previously the chief executive of McDonald's Australia, a position he held for six years, the paper said.
McDonald's has made China a top priority for future growth, executives said at the annual shareholders' meeting last month. The burger chain has about 660 restaurants there. By the time of the Beijing Olympics in 2008, the golden arches will stand over 1,000 restaurants in China, if the company has its way.
"It's very important," said Scott Rothbort of LakeView Asset Management, a McDonald's shareholder. "They're looking ahead to the Olympics first of all to make an impression on the local economies."
Russo replaces Peter Tan, who stepped down for personal reasons, according to a spokeswoman.
McDonald's faces a challenge in China, where its profits have not grown as quickly as in the US.
"Our returns are in the double digits -- but not quite as high as McDonald's USA," Chief Financial Officer Matt Paull said last month.
As McDonald's and Wendy's introduce healthier options amid rising obesity levels and a general interest in healthier foods, some fastfood companies have been going in the opposite direction, introduci...
The organic market appears to be going from strength to strength, especially if this year's BioFach exhibition is anything to go by. With over 2,000 exhibitors from 70 countries and more than 30,000 v...
Last month a customer at an outlet of US fastfood chain Wendy's claimed to have found a severed finger in her food. The news spread like wildfire, fuelled by intense media interest, and Wendy's sales ...
It's easier talking to your customers if you speak their language. With millions of speakers of minority languages around the world, food processors and retailers need to be able to communicate with t...
Fastfood company McDonald's is testing a healthier blend of oil for cooking its fries in a small number of restaurants, according to an Associated Press story published by the Chicago Tribune....
Fastfood company McDonald's is planning to expand its franchise network in China, according to the China Daily....
Fastfood chain McDonald's has today (Monday) announced the appointment of Peter Bush as the new managing director/CEO for McDonald's Australia....
Quick is poised to become the first foreign fastfood chain operator to open for business in Algeria, French newspaper La Tribune reports....
- Interview: Sir Kensington's on sale to Unilever
- Analysis: Post discusses rationale for Weetabix
- Interview: "Disruptive" snack brand Hippeas
- Who will buy Danone's Stonyfield business?
- Column: Why snacking is the new meal
- Unilever buys US condiments maker Sir Kensington's
- Tyson shops Sara Lee bakery, Kettle and Van's
- Icelandic to sell Saucy Fish Co. owner Seachill
- Dairy dampens Danone in Q1
- Tyson to buy burger-to-entree firm AdvancePierre