40% of McDonald Execs Began as Hourly Workers: CEO

Your next video will start in

Recommended Videos

  • Info

  • Comments


July 24 (Bloomberg) -- McDonald's President and CEO Don Thompson discusses upward mobility and hiring practices with Betty Liu. (Source: Bloomberg)

Ceo don thompson has been to the university and number of times.

He talked about his career and the criticism over their employment practices.

When i started 23 years ago, i came as an electrical engineer from the defense system.

I had no idea what happened at mcdonald's relative to career opportunity.

Over the last 23 years i have seen some amazing things.

If 40% of executives started out as restaurant employees.

Over 50% of our franchisees' started as hourly employees.

There is no other institution that can boast those kinds of opportunities and success stories across the system.

And so, at mcdonald's, we are really all about, or regardless of where you came in life -- some of these people i mentioned have high-school diplomas only.

Some have their mba's. it is a diverse pool.

But everyone of them has the opportunity to show what they can do in the mcdonald's environment and satisfy customers.

Mcdonald's has always stood for opportunity.

And we are a diverse system.

We represent the demographics of the people walking through our doors.

Our supplier base is one of the most diverse in the world.

We have a lot of checkpoints.

The customers are our checkpoints.

And as you are aware, in the last week or so, the company has been under fire for this financial planning web site that was created a few years ago.

People at mcdonald's, former employees, have said, it shows that mcdonald's is out of touch with the minimum wage workers, that they do not understand what it is like to live on minimum wage.

How do you feel about that?

I will be kind.

I find a lot of those comments interesting.

That tool has been out there for about five years, the website.

It was intended to do something very simple.

That is to help someone who might be entering the workforce for the first time, or someone who has not have -- had financial planning, to manage their finances.

There are thousands of these web sites out there.

Five years ago, to provide something like that internally, i thought, was an innovative idea.

When i was a younger age, i did not know anything about financial planning or management.

It took my wife to help me out on that.

I would have loved to have something guide me through.

That is what that tool was all about.

There was something about two line items for income.

They said $20 for health care is unrealistic.

If you have a spouse or significant other, -- so it was intended to be a two spouse house hold?

Regardless of their demographic or household, it was designed to be a tool.

This text has been automatically generated. It may not be 100% accurate.


BTV Channel Finder


ZIP is required for U.S. locations

Bloomberg Television in   change