McDonald's to serve better food, reorganize, says CEO

McDonald's CEO Steve Easterbrook announced Monday the company must innovate new food and service offerings to combat a drop in sales and stock.

Facing competition from growing chains like Shake Shack, Five Guys and Smashburger, Easterbrook said McDonald's must offer new, high-quality food items that address customer demand for customization. At the same time, the fast food juggernaut must address an overstuffed and complex menu, he said.

Also, McDonald’s may soon implement new technology such as mobile ordering and self-order kiosks to better serve customers outside traditional indoor counters and drive-thru windows.

The chain plans to save $300 million annually by the close of 2017 through restructuring and careful spending. McDonald’s aims to franchise 90 percent of its locations by 2018, up from the current level of 81 percent.

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