McDonald's To Cut Ties With Heinz After 40 Year Patnership
Published on Oct 29 2013 9:12 AM in A-Brands
In what is already being dubbed as the business "divorce of the century", fast food giant McDonald’s has announced that it will drop Heinz ketchup from its menu because former Burger King CEO Bernardo Hees is now running Heinz.
"As a result of recent management changes at Heinz, we have decided to transition our business to other suppliers over time," McDonald's said in a statement.
"We have spoken to Heinz and plan to work together to ensure a smooth and orderly transition," said McDonald's, which has more than 34,000 restaurants around the globe.
Heinz declined to comment to Reuters earlier this week. "As a matter of policy, Heinz does not comment on relationships with customers," company spokesman Michael Mullen said.
Burger King stock was on the upswing Monday after the fast-food company said its profit surged nearly 33% in the third quarter, beating predictions.
The Miami-based company said its adjusted net income soared to $81.1 million, or 23 cents a share, from $61.1 million, or 17 cents a share, during the same period a year earlier.
Bernardo Hees, 42, became the CEO of Burger King Worldwide, Inc., in 2010, according to Forbes. He was named Heinz CEO on June 10.