Inside McDonald’s New Strategy

Harvard Business Review Logo <path d="M21.3729 54.332V50.78C21.3729 49.2013 20.5031 47.9022 19.0534 47.3102L18.8546 47.228L19.0534 47.154C20.4037 46.6689 21.2072 45.3862 21.2072 43.7171V40.6667C21.2072 37.3531 19.3434 35.6758 15.6736 35.6758H9.05469V59.3229H15.8392C19.509 59.3229 21.3729 57.6456 21.3729 54.332ZM13.9671 39.7869H15.1682C15.8807 39.7869 16.2866 40.2884 16.2866 41.16V43.75C16.2866 44.6216 15.8807 45.1231 15.1682 45.1231H13.9671V39.7869ZM13.9671 55.2036V49.1684H15.1351C15.9884 49.1684 16.4191 49.6618 16.4191 50.6402V53.8222C16.4191 54.7102 16.0132 55.1953 15.2676 55.1953H13.9671V55.2036Z" /> <path d="M41.908 59.5859C45.6109 59.5859 48.005 57.4563 48.005 54.1592V51.0759C48.005 49.0779 47.392 47.9267 45.7352 46.8332L41.8252 44.0787C41.2287 43.6347 41.0216 43.199 41.0216 42.385V40.9625C41.0216 39.7703 41.6098 39.5236 42.1068 39.5236C42.7861 39.5236 43.1589 40.0334 43.1589 40.9625V43.7827H47.9719V40.831C47.9719 37.4352 45.7766 35.4043 42.1068 35.4043C38.437 35.4043 36.043 37.5339 36.043 40.831V43.3881C36.043 45.3861 36.656 46.5372 38.3128 47.6307L42.2228 50.4181C42.753 50.8127 43.0263 51.1827 43.0263 52.1119V54.0359C43.0263 54.965 42.6536 55.4747 41.9743 55.4747C41.4772 55.4747 40.8891 55.2281 40.8891 54.0359V50.7881H36.043V54.1674C36.043 57.5632 38.2382 59.5941 41.908 59.5941V59.5859Z" /> <path d="M92.9786 51.0846C92.9786 49.0866 92.3656 47.9355 90.7088 46.842L86.7988 44.0875C86.2024 43.6435 85.9952 43.2078 85.9952 42.3938V40.9713C85.9952 39.7791 86.5834 39.5324 87.0805 39.5324C87.7597 39.5324 88.1325 40.0422 88.1325 40.9713V43.7915H92.9455V40.8398C92.9455 37.444 90.7502 35.4131 87.0805 35.4131C83.4107 35.4131 81.0166 37.5426 81.0166 40.8398V43.3969C81.0166 45.3949 81.6296 46.546 83.2864 47.6395L87.1964 50.4269C87.7266 50.8215 88 51.1915 88 52.1206V54.0446C88 54.9738 87.6272 55.4835 86.9479 55.4835C86.4509 55.4835 85.8627 55.2369 85.8627 54.0446V50.7969H81.0166V54.1762C81.0166 57.572 83.2118 59.6029 86.8816 59.6029C90.5514 59.6029 92.9786 57.4733 92.9786 54.1762V51.0846Z" /><path d="M106.076 51.0846C106.076 49.0866 105.463 47.9355 103.806 46.842L99.8965 44.0875C99.3 43.6435 99.0929 43.2078 99.0929 42.3938V40.9713C99.0929 39.7791 99.6811 39.5324 100.178 39.5324C100.857 39.5324 101.23 40.0422 101.23 40.9713V43.7915H106.043V40.8398C106.043 37.444 103.848 35.4131 100.178 35.4131C96.5083 35.4131 94.1143 37.5426 94.1143 40.8398V43.3969C94.1143 45.3949 94.7273 46.546 96.3841 47.6395L100.294 50.4269C100.824 50.8215 101.098 51.1915 101.098 52.1206V54.0446C101.098 54.9738 100.725 55.4835 100.046 55.4835C99.5485 55.4835 98.9604 55.2369 98.9604 54.0446V50.7969H94.1143V54.1762C94.1143 57.572 96.3095 59.6029 99.9793 59.6029C103.649 59.6029 106.076 57.4733 106.076 54.1762V51.0846Z" /> <path d="M49.7285 32.6418C49.4386 31.7785 49.3972 30.5945 49.3972 29.542V24.4032C49.3972 22.6847 48.6599 21.4514 47.3096 20.9334L47.1025 20.8512L47.3096 20.7772C48.6599 20.292 49.4635 19.0094 49.4635 17.3403V13.9938C49.4635 10.6803 47.5996 9.00293 43.9298 9.00293H37.1121V32.65H42.0576V23.03H43.1925C43.7641 23.03 44.4434 23.2849 44.4434 24.5018V29.7065C44.4434 30.652 44.4848 31.8278 44.783 32.6418H49.7285ZM43.3665 18.812H42.0659V13.2127H43.3665C44.0706 13.2127 44.4848 13.7307 44.4848 14.5858V17.4389C44.4848 18.3105 44.0789 18.812 43.3665 18.812Z" /> <path d="M84.5049 32.6428H89.4422C89.1522 31.7795 89.1108 30.5955 89.1108 29.543V24.4041C89.1108 22.6857 88.3735 21.4524 87.0232 20.9343L86.8244 20.8521L87.0315 20.7781C88.3818 20.293 89.1854 19.0104 89.1854 17.3412V13.9948C89.1854 10.6812 87.3215 9.00391 83.6517 9.00391H76.834V32.651H81.7795V23.031H82.9144C83.486 23.031 84.1653 23.2859 84.1653 24.5028V29.7075C84.1653 30.653 84.2067 31.8288 84.5049 32.6428ZM83.0801 18.813H81.7795V13.2137H83.0801C83.7842 13.2137 84.1984 13.7317 84.1984 14.5868V17.4399C84.1984 18.3115 83.7925 18.813 83.0801 18.813Z" /> <path d="M16.7336 86.0129H21.6708C21.3809 85.1496 21.3394 83.9656 21.3394 82.9131V77.7742C21.3394 76.0558 20.6022 74.8225 19.2519 74.3045L19.0531 74.2222L19.2602 74.1482C20.6105 73.6631 21.414 72.3805 21.414 70.7114V67.3649C21.414 64.0514 19.5501 62.374 15.8803 62.374H9.06264V86.0211H14.0082V76.4011H15.1431C15.7146 76.4011 16.3939 76.656 16.3939 77.8729V83.0776C16.3939 84.0231 16.4354 85.1989 16.7336 86.0129ZM15.3087 72.1831H14.0082V66.5838H15.3087C16.0129 66.5838 16.4271 67.1018 16.4271 67.9569V70.81C16.4271 71.6816 16.0212 72.1831 15.3087 72.1831Z" /> <path d="M64.9959 148L64.0929 147.556C39.1499 135.387 22.9548 124.509 13.1218 113.319C4.05085 103 0 92.1464 0 78.1276V0H130V78.1276C130 92.1464 125.957 103 116.878 113.319C107.045 124.509 90.8418 135.387 65.9071 147.556L65.0042 148H64.9959ZM4.10884 4.07822V78.1276C4.10884 91.0858 7.8449 101.117 16.2117 110.638C25.5643 121.27 41.0801 131.712 64.9959 143.453C88.9116 131.712 104.436 121.27 113.78 110.638C122.155 101.117 125.883 91.094 125.883 78.1276V4.07822H4.10055H4.10884Z" /> An HBR Executive Live conversation with McDonald’s Chairman and CEO Chris Kempczinski.

August 26, 2026

McDonald’s Chairman and CEO Chris Kempczinski joined HBR editor at large Adi Ignatius for a wide-ranging conversation about the company’s new strategy, McDonald’s > Few companies have navigated shifting consumer expectations as consistently as McDonald’s. As inflation, changing dining habits, and intensifying competition are reshaping the restaurant industry, the company is continuing to evolve its strategy while serving millions of customers today.

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