McDonald’s CFO: Technology Investment Is Necessary to Grow
Skift Take
It's hard to be forward-looking when short-term sales are at stake, but McDonald's executives are right to keep funneling money into system-wide tech upgrades. This will pay off in the not-so-distant future.
Even McDonald's wasn't prepared for how technology has changed the core of restaurant operations.
Speaking at a recent investor conference, McDonald's chief financial officer Kevin Ozan reiterated how necessary it is to keep investing in technology innovations, even if it means walking back previous projections about how much the company would save in operational expenses with McDonald's system-wide Experience of the Future (EOTF) store upgrades.
When McDonald's initially launched the controversial Experience of the Future revamp in 2015, the company said that it would save $500 million in general and administrative expenses with this plan. In 2017, McDonald's added another $100 to $200 million to the proposed cost savings, but later backed down from that
