McDonald's history: Beyond the Ticker
With over 38,000 locations in more than 100 countries, McDonald's (MCD) is a global icon in the fast food industry. In 2023, McDonald's generated over $25 billion dollars in revenue, up nearly 10% compared to the year before. Let's dive into the company's biggest moments with Beyond the Ticker. 1940 The McDonald's brothers, Dick and Maurice, opened the first McDonald's restaurant on May 15, 1940, in San Bernardino, California. 1954-1955 Ray Kroc purchased the rights to franchise McDonald’s and opened the first franchised restaurant in Des Plaines, Illinois. 1955-1965 Kroc bought the brothers out, then developed its current model of owning the real estate that McDonald’s franchise locations are on. 1965 In April 1965, McDonald's went public via an initial public offering at $22.50 per share. 1972 McDonald's hit a milestone – generating $1 billion in sales. 1990 The first McDonald's restaurant opened in the Soviet Union in Pushkin Square, Moscow, marking a symbolic moment of the Cold War, serving thousands of customers. 2003 In the early 2000s, the thriving food chain was met with competition and tragedy. Former executive James Cantalupo came out of retirement to lead the company, but in 2004 he suddenly passed away after 16 months at the helm. 2004 Life-long McDonald’s employee Charlie Bell was named CEO but tragically passed away from cancer shortly after. Amid the two tragedies, the movie Super Size Me took off - resulting in McDonald’s getting rid of the Super Size option. 2005-2012 Jim Skinner served as CEO, taking the company through the Great Financial Recession. 2012-2015 Don Thompson served as CEO, then retired as he faced pressure over declining sales. 2015 Steve Easterbrook then took the top seat, and in an attempt to reinvigorate its brand, McDonald's launched its all-day breakfast menu. Soon after, Easterbrook was fired for having an “inappropriate personal relationship” with an employee, according to the SEC. 2019 US president Chris Kempcinski was promoted to CEO, taking the company through the Covid-19 pandemic. 2023 McDonald's continues to expand and evolve, with its latest concept, CosMc's, a drive-thru-only restaurant featuring McCafe products, beverages, and treats. From a single restaurant to billions and billions served, McDonald's aims to hold its top spot as the quintessential American fast food chain. From tech giants to retail titans, Beyond the Ticker is a historical series that takes a deep dive into some of Wall Street's trending companies and how they transformed into the financial icons they are today. Check out more of our Beyond the Ticker series, and be sure to tune in to Yahoo Finance. Editor's note: This video was produced by Zach Faulds.
