McDonald's Holdings Co. Ltd. (Tokyo) has replaced its president and ceo following a drop in first-half sales and profits, Reuters News Agency reports.
Eiko Harada, who has run the Japanese operation since 2005, has been replaced by 22-year McDonald’s veteran Sarah Casanova.
McDonald’s Japan is 49.9 percent owned by McDonald’s Corp. (Oak Brook, Ill.).
The sales fall-off has been blamed by a weaker yen, which drove McDonald’s Japan to raise its prices, even while some Japanese chains were cutting their prices. There was also increased competition in the prepared food offerings of Japanese convenience stores.
In July, according to Reuters News Agency, McDonald’s Japan introduced a ¥1000 ($10) limited-edition quarter pounder, but customer numbers fell 9.5 percent compared to the same month a year ago.