McDonald's Attempts to Shake Up Business With New Turnaround Plan

McDonald's (MCD) announced a new global turnaround plan on Monday aimed at revitalizing its struggling business. The plan consists of a major refranchising initiative, ultimately making McDonald's 90% franchisee-operated globally within four years, up from 81% currently. There will be added emphasis on franchisees to cater menus to local preferences and drive sales. McDonald's will also reorganize into four segments: U.S., international, high-growth markets and foundational markets, each overseen by a division president. It will also seek to better adapt to consumers' changing preferences, looking to improve food quality and public perception of what it serves. Shares of McDonald's were slipping following the news.