McDonald’s is leaving the door open for a possible move to downtown Chicago.
At the company’s annual shareholder meeting on Thursday, CEO Steve Easterbrook said that the company “is committed to leaving no stone unturned” when asked about rumors that Oak Brook-based McDonald’s is considering moving its headquarters downtown. McDonald’s is analyzing all aspects of its business in an ongoing turnaround, and Easterbrook said that includes considering whether it is in the right facilities.
For months, rumors of McDonald’s moving some of its corporate workforce to the city have run rampant, with Willis Tower considered to be one possible location. A source with knowledge of the situation said Thursday that McDonald’s would not move into Willis Tower. But other downtown buildings, some higher-profile than others, have also been fodder for the rumor mill.
In his response to a shareholder’s question, Easterbrook acknowledged that “the pace of change outside the company had been running quicker than the pace of change within,” and he vowed that McDonald’s will continue to look for every way in which it can improve its business. Since Easterbrook took the helm last March, McDonald’s has removed items from its menu to improve efficiency and speed up order times. The fast food giant also launched all-day breakfast, which the executive said has “ignited” progress in other parts of the business.
In addition to the inquiry about a possible headquarters move, the CEO faced questions about marketing to children, the minimum wage and animal welfare polices at the meeting, which took place at McDonald’s headquarters as thousands of protesters supporting the Fight for $15 movement marched outside. The protesters arrived late Wednesday and spent the night in tents outside the headquarters building, forcing McDonald’s to encourage its Oak Brook employees to work from home Thursday.
The meeting’s core agenda lasted just over 20 minutes, with all of the company’s directors being re-elected to new terms and all the shareholder proposals voted down, including a request to broaden McDonald’s promise to use fewer antibiotics in beef and pork and a proposal to “align corporate values with political contributions.”
The question-and-answer period only included questions submitted before the meeting began, which led some attendees to interrupt the proceedings. Attendees at the meeting said those who stood were asked to sit down and stay quiet by security. The meeting was closed to the media but it was broadcast over the Internet.
Watchdog group Corporate Accountability International, which has fought McDonald’s on a number of issues including marketing to children and affiliations with hospitals, called the lack of an open session “unprecedented.”
“This shift indicates a significant tightening of the meeting,” press secretary Kara Kaufman said.
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