Jim Cantalupo became Chairman and CEO at the beginning of 2003 and
had this to say in the opening paragraphs of the 2003 Annual Report:
"As you will recall, our business was in serious need of improvement
when I became chairman and CEO at the beginning of 2003, I said back
then that we had taken our eyes off our fries, and we paid a price.
Our performance had disappointed our customers, our shareholders and
ourselves. We know we had a lot of work to do to right McDonald's ship
and rebuild our foundation to support future growth."
Ten and one-half years later can't the same thing be said about McDonald's
today? Isn't expanding the menu exponentially and making the restaurant
operation insanely complex also taking your eyes off your fries?
The 2003 annual report also makes this statement:
"In the long run, only exceptional service will truly differentiate
McDonald’s from the competition. So we are making a concerted effort to
improve the friendliness, speed and accuracy of our service. We improved
our drive-thru service times in the U.S. last year, but we’re committed
to doing even better.
We’re simplifying our restaurant operations. We’re using more visual menu
boards to make ordering easier for customers. We’re also eliminating some
sizes and slow-selling items and better organizing the kitchen, front
counter and drive-thru areas to improve efficiency."
Wow, what a difference a decade makes!