The Chicago burger giant said its existing licensee Alexander Govor, who operates 25 restaurants in Siberia, has agreed to buy McDonald’s 850 Russian restaurants and operate them under a new name. McDonald’s did not disclose the terms of the sale.
McDonald’s is “de-arching” in Russia and leaving the country after more than 30 years; as the baby formula crisis deepens, a local congressman is putting pressure on Abbott Labs; and Boeing leadership faces criticism from an Ireland-based airline.
The “Mc” mark in McDonald’s takes center stage in a trademark dispute with a CBD merchant; Allstate CEO Tom Wilson says insurance premiums have to rise; and beer enthusiasts won’t have to wait much longer for the beloved Lagunitas taproom to reopen.
McDonald’s faces a lawsuit that claims systemic racism in the company’s practices. Ann Dwyer has details on that story and more.
“During my tenure as CEO, I failed at times to uphold McDonald’s values and fulfill certain of my responsibilities as a leader of the company,” Steve Easterbrook said in a prepared statement issued Thursday by McDonald’s.
Following controversial remarks by McDonald’s CEO, a new campaign asks the company to do more than apologize. That story and more with Crain’s Chicago Business reporter A.D. Quig.
Revenue jumped 14% to $6.2 billion in the July-September period, the Chicago burger giant said Wednesday. That beat Wall Street’s forecast of $6 billion, according to analysts polled by FactSet.
McDonald’s follows other chains including Chipotle, which said Monday that it will raise workers’ pay to an average of $15 per hour by the end of June.
The 52 plaintiffs, who owned around 200 U.S. stores before being forced to sell them over the last decade, are seeking compensation of $4 million to $5 million per store, according to the lawsuit, which was filed Tuesday in federal court in Chicago.
McDonald’s files a lawsuit against its former CEO, who was ousted last fall. That story and more with Crain’s Chicago Business Editor Ann Dwyer.
McDonald’s says it’s suing Stephen Easterbrook, the CEO it ousted last year over an inappropriate relationship with an employee, alleging Monday that he covered up relationships with three other employees and destroyed evidence.
McDonald’s says it will be requiring customers to wear face coverings when entering its U.S. restaurants as the number of new virus cases continue to surge in many states.
The National Labor Relations Board has ruled in McDonald’s favor in a long-running case filed by 20 workers who were fired or faced retaliation for trying to unionize.
A group of employees from 13 McDonald’s restaurants in Chicago filed a lawsuit Thursday alleging that the company’s drive for profits puts workers at “daily risk” of physical attack by dangerous customers.
At least 50 workers have filed sexual harassment charges against the company with the U.S. Equal Employment Opportunity Commission or in state courts over the past three years.