Rats leaving a sinking ship
In this case the only thing I feel really can be blamed on the board which is huge is not replacing Steve Ells he is arrogant, does not want to listen and has mismanaged the operations and supply chain of the company and should be held accountable. He is a visionary and a chef but not a person that should be at the helm of this large of a restaurant company. Still one McD's guy left on the board Mathew Paull I never thought much of him when he was with McD's as he always spoke about the companies returns, ROI etc. I never once heard him say anything in a shareholder meeting about franchisees financial health, cash flow etc. Pat Flynn & John Charlesworth certainly have the restaurant pedigree I never interacted with neither so can not comment but heard Pat Flynn was a real ball buster but just rumors. Mr. Adams you probably know about them?
It's an interesting bit of corporate maneuvering that Matt Paull was part of the McDonald's management team that kept Bill Ackman from making major changes to McDonald's Corp. Apparently Ackman was impressed and hired him to work with Pershing Square.I only know Charlesworth by reputation but first met Pat Flynn when he in Minneapolis. When Pat was moving up in the company he was instrumental in developing the "control-freak" culture that's still in place today. When he was Zone Manager for the Western Zone he was fanatical about dictating menu prices to McDonald's Operators.
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