McDonald's Corporation has selected Lionhorn as the Developmental Licensee (DL) for its Malaysia and Singapore markets.
According to a McDonald's press release, under the DL structure, ownership interest in McDonald's Malaysia and Singapore were transferred to Lionhorn to run McDonald's restaurant operations in these markets.
The transfer of ownership is effective 1 December 2016 and includes a total of 390 restaurants, more than 80% of which were company-owned. Financial terms of the transaction were not disclosed.
"This transaction marks another milestone in our Company's ongoing efforts to identify strategic partners who share our values and vision to accelerate our growth and scale across diverse markets, drive innovation and place us closer to our customers and the communities we serve," said McDonald's president and chief executive officer Steve Easterbrook.
Responding to Human Resources' query about how the workforce will be affected, a McDonald’s spokesperson said: "The operating partners or managing directors in both Singapore and Malaysia markets are locals – they are both very experienced individuals who understand the brand, and the importance of employee engagement, to deliver a great customer experience.
We do not anticipate any organisational restructuring as a direct result of the developmental licensee transaction. However, over time, organisational structures may need to adapt to changing business needs."
Lionhorn is led by Sheik Fahd and Abdulrahman Alireza, who bring 20 years of experience as the DL for the nearly 100 McDonald's restaurants in the Western and Southern regions of Saudi Arabia.
"We are pleased to welcome Sheik Fahd as the Developmental Licensee for our business in Malaysia and Singapore," said Simone Hoyle, head of McDonald's Asia foundational markets.
"Sheik Fahd and Abdulrahman Alireza's experience in running great restaurants will create brand excitement for our customers and new opportunities for our people as these markets continue to grow and develop," he added.
Day-to-day management of the Malaysia and Singapore markets will be led by local operating partners Azmir Jaafar and Kenneth Chan respectively. Both Jaafar and Chan have previously held senior leadership positions at McDonald's and together possess over 40 years of experience.
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