McDonald’s Corporation today announced Hubert Lee as the Developmental Licensee for its Taiwan market
“With today’s announcement in Taiwan, we are one step further to delivering early on our commitment to enhance local brand relevance and our customers’ restaurant experience through the refranchising of 4,000 restaurants around the world,” said McDonald’s President and Chief Executive Officer, Steve Easterbrook. “By identifying strategic partners who share our values and vision to accelerate our growth and scale across diverse markets, we will drive innovation and make us more relevant to our customers and the communities we serve.”
McDonald’s entered into a Multi Unit Franchise Agreement for the Taiwan market with De Yu Co. Ltd. (De Yu), a consortium of investors led by Mr. Lee, with Mr. Lee holding a 70% controlling stake. As the new DL, Mr. Lee will be actively involved in the McDonald’s business in Taiwan. Mr. Lee and De Yu assumed ownership of the McDonald’s business in Taiwan on June 1, 2017, including a total of nearly 400 restaurants, more than 90% of which were Company-owned. Financial terms of the transaction were not disclosed.
Under the DL structure, McDonald’s transferred its ownership interest in McDonald’s Taiwan and granted a license to Mr. Lee to develop and operate the McDonald’s restaurants in this market. The DL partner will provide the capital necessary to support and grow the business.
“We look forward to partnering with Mr. Lee and his team to take our brand to the next phase in Taiwan,” said Simone Hoyle, Head of McDonald’s Asia Foundational Markets. “Building on our existing brand strengths and high standards, I am confident that together, we will create many exciting opportunities through modernizing our restaurants, enhancing digital consumer engagement, and offering customers even more personalized service and a menu tailored to the local culture.”
Joanna Liu, will continue as Managing Director and will lead the day-to-day management of the Taiwan market. Ms. Liu started as a restaurant supervisor in Taiwan in 1984 and was Chief Operating Officer before she became Managing Director in December 2016.
“I am excited about joining a leading and world-class organization such as McDonald’s and working together with the team across Taiwan to make customer experience even more unique and innovative,” said Hubert Lee. “I share the McDonald’s vision to delight customers with the taste and quality of our food and offer the highest level of service and convenience.”