Pershing Square Activist Presentation Deck
a
A Revised Proposal for Creating Value
at McDonald's
Strategic Benefits to the McDonald's
System (cont'd)
Final Revised Proposal.ppt
Would increase McDonald's credibility in the system and allow it to better
understand the true impact of new product introductions
► Testing products at arm's-length McOpCo would provide McDonald's with
■ A better understanding of the true economic impact of its new products on the typical
owner/operator's bottom line
More credibility when communicating impact of new products to franchisees
Franchisee participation on the McOpCo Board will temper any perception that McOpCo
receives "preferential treatment" from McDonald's
► 80% ownership of McOpCo would preserve McDonald's "skin in the game"
Bottom-lined focused McOpCo would be influential in endorsing new products
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