U.S. fast-food giant McDonald's has ended its 41-year-long Olympic Games sponsorship deal three years early, the International Olympic Committee said on Friday.
McDonald's, a sponsor since 1976 and part of the IOC's top sponsors programme that contributes more than $1 billion in every four-year cycle for the Games, had a contract running through the 2020 Tokyo summer Olympics.
"In today's rapidly evolving business landscape, we understand that McDonald's is looking to focus on different business priorities," Timmo Lumme, managing director of IOC Television and Marketing Services, said in a statement.
Financial terms of the separation were not disclosed.
While it is unusual for an Olympic sponsor to leave early, sponsors change regularly within the IOC's top programme. The most recent addition was China's Alibaba Group Holding Ltd, which signed a deal in January for a partnership through 2028.
"As part of our global growth plan, we are reconsidering all aspects of our business and have made this decision in cooperation with the IOC to focus on different priorities," McDonald's Global Chief Marketing Officer Silvia Lagnado said.
McDonald's has been tightening costs as it invests in improving its food quality, restaurant service and online ordering to woo back diners in the United States, where intense competition has gnawed away at sales.
The company, first involved with the Games in 1968, was its food retail sponsor. Despite pulling out with immediate effect, McDonald's will continue at next year's Pyeongchang winter Olympics as sponsors with domestic marketing rights.
The IOC said it was not planning a direct replacement for McDonald's.
The IOC has faced criticism from public health campaigners for allowing sponsors such as Coca-Cola and McDonald's to use the Games as an opportunity to market their products, which are perceived to be unhealthy, in contrast to what the event seeks to promote.
Reuters
Fri Jun 16 2017
The sign outside a McDonalds restaurant is seen in Westminster, Colorado, U.S. January 23, 2017. REUTERS/Rick Wilking
[LAPOR LANGSUNG] Israel serang Iran, peluru berpandu Zionis bedil Isfahan
Letupan kedengaran di lapangan terbang di bandar Isafahan di Iran tetapi puncanya masih belum dapat dipastikan.
"Itu fake news, saya tidak tahu siapa reka cerita" - Angeline Tan jawab dakwaan hamil
Kata Angeline, pada usia begini, dia dan suami mahu hidup tenang serta memadai timang cucu sahaja.
Polis buru suspek pecah rumah sebabkan kerugian kira-kira RM5,000
Polis berjaya mendapat kesan cap jari dipercayai milik suspek.
Penerbangan ke Tehran, Isfahan dan Shiraz digantung
Penggantungan itu berkuat kuasa serta-merta, tetapi penerbangan belum dibatalkan, kata pengarah itu.
RHB tingkatkan sasaran perkhidmatan kewangan mampan kepada RM50 bilion menjelang 2026
RHB tingkatkan sasaran perkhidmatan kewangan mampan 2026 kepada RM50 bilion berbanding RM20 bilion sebelum ini berikutan pencapaian kukuh setakat ini.
Ringgit dibuka rendah berbanding dolar AS
Ringgit susut berbanding dolar AS pada sesi awal Jumaat ketika unit negara maju itu meneruskan pengukuhannya.
[TERKINI] Peluru berpandu Israel jatuh di Iran
Peluru berpandu dipercayai milik Israel mengenai sebuah tapak di Iran, menurut laporan ABC News memetik seorang pegawai tertinggi Amerika Syarikat (AS).
Agensi berita Iran FARS pula berkata, letupan kedengaran di lapangan terbang di bandar Isafahan di Iran tetapi puncanya masih belum dapat dipastikan.
CNN turut melaporkan beberapa penerbangan yang melalui ruang udara Iran telah dilencongkan.
Agensi berita Iran FARS pula berkata, letupan kedengaran di lapangan terbang di bandar Isafahan di Iran tetapi puncanya masih belum dapat dipastikan.
CNN turut melaporkan beberapa penerbangan yang melalui ruang udara Iran telah dilencongkan.
Kepulangan Syamer kekuatan tambahan Penang FC - Jurulatih
Pengalaman Syamer bersama pasukan JDT dan skuad kebangsaan merupakan peluang terbaik untuk membantu pasukan bersaing dengan lebih hebat.
Penerbangan komersial dilencongkan selepas dakwaan letupan di Isfahan
Syarikat penerbangan Emirates dan FlyDubai yang berpangkalan di Dubai mula melencong pesawat mereka kira-kira 4.30 pagi waktu tempatan.
KBS umum syarat pelepasan cukai latihan sukan
Pelepasan ini akan diperluas meliputi perbelanjaan yuran mengikuti latihan sukan.