Weekly Global News Wrap: McDonald's banks on digital transformation; Malaysia's QSR Brands mulls $509.6m IPO; Chipotle now offers delivery in 1,500 US sites
Here is a summary of the most interesting QSR news stories of the week from around the world.
During the company's first-quarter earnings call, McDonald's CEO Steve Easterbrook said the company had begun "an aggressive plan and one of the most significant transformations in our history." This includes installing ordering kiosks, adding curbside pickup in some locations, and improving the drive-thru experience. The initiative, dubbed the "Experience of the Future" (EOTF), works in tandem with the company's improvements on the digital side, including mobile ordering and payment, as well as delivery in a growing number of stores. Read more here.
Reuters reported that QSR Brands, Malaysia’s largest QSR operator, is considering an initial public offering to raise around 2 billion ringgit ($509.6 million), shareholder Johor Corp said. Johor Corp would like to see QSR’s IPO done no later than November, its president and chief executive officer, Kamaruzzaman Abu Kassim, told reporters. Johor Corp is the investment arm of Malaysia’s Johor state.
Suzanne Greco, chief executive officer of Subway, has informed the company's Shareholders of her intent to retire as CEO. Subway has appointed Trevor Haynes, chief business development officer, as interim CEO, overseeing the day-to-day operations of the company. Greco and Haynes will work together to ensure a smooth transition until Greco officially retires on June 30, 2018, at which point she will serve as a Senior Advisor to the company. Read more here.
Chipotle Mexican Grill and DoorDash has announced a national delivery partnership. The new partnership now makes Chipotle delivery available from more than 1,500 Chipotle restaurants across the country, the company's largest delivery footprint to date. Read more here.
Starbucks Corporation has announced it will form a global coffee alliance with Nestlé S.A. to accelerate and grow the global reach of Starbucks brands in Consumer Packaged Goods (CPG) and Foodservice. As part of the alliance, Nestlé will obtain the rights to market, sell, and distribute Starbucks, Seattle’s Best Coffee, Starbucks Reserve, Teavana, Starbucks VIA, and Torrefazione Italia packaged coffee and tea in all global at-home and away-from-home channels. Read more here.
