(MONEY.CNN) — New McDonald's CEO Steve Easterbrook unveiled a turnaround plan for the struggling fast good giant Monday morning. And he did not mince words when discussing the company's problems.
Sales have fallen recently and the stock has lagged the broader market.
Easterbrook said in a video presentation that the recent performance was "poor" and that "the numbers don't lie."
To tackle this problem, McDonald's is reorganizing its international operations and plans to franchise more of its restaurants. It wants to have 90% of its locations franchised by 2018, up from 81% currently.