Cairo
\nMcDonald\u2019s (MCD.N) CEO Chris Kempczinski said on Thursday several markets in the Middle East and some outside the region were experiencing a \u201cmeaningful business impact\u201d due to the Israel-Hamas conflict as well as \u201cassociated misinformation\u201d about the brand.
\nMajor Western fast-food chains including McDonald\u2019s and Starbucks (SBUX.O) have seen largely spontaneous, grassroots boycott campaigns over their perceived pro-Israeli stance and alleged financial ties to Israel. Kempczinski said the misinformation surrounding brands like McDonald\u2019s was \u201cdisheartening and ill-founded.\u201d
\n\u201cIn every country where we operate, including in Muslim countries, McDonald\u2019s is proudly represented by local owner operators who work tirelessly to serve and support their communities while employing thousands of their fellow citizens,\u201d Kempczinski said in a LinkedIn post.
\nIn October, McDonald\u2019s Israel said on its social media accounts that it had given thousands of free meals to Israel Defense Forces personnel.
\nThis was later renounced by McDonald\u2019s franchises in some Muslim countries, highlighting the polarized regional politics that global corporations navigate during war.
\nSome of the Western brands are feeling the impact of boycotts in Egypt and Jordan that have now caught on in some countries outside the Arab region including Muslim-majority Malaysia.
\nAround 1,200 Israelis were killed by Palestinian militant group Hamas on Oct. 7. Israeli bombardments have since killed about 22,438 people in Gaza by Thursday.
\nAs of fiscal 2022, the company franchised and operated about 40,275 McDonald\u2019s restaurants across more than 100 countries. The fast-food chain reported total annual revenue of $23.18 billion in the year.
\nShares of the company were down marginally in afternoon trading.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cairo McDonald\u2019s (MCD.N) CEO Chris Kempczinski said on Thursday several markets in the Middle East and some outside the region were experiencing a \u201cmeaningful business impact\u201d due to the Israel-Hamas conflict as well as \u201cassociated misinformation\u201d about the brand. Major Western fast-food chains including McDonald\u2019s and Starbucks (SBUX.O) have seen largely spontaneous, grassroots boycott campaigns […]<\/p>\n","protected":false},"author":2,"featured_media":379043,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-379026","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\n