McDonald's said Heinz would no longer be the official ketchup of the fastfood company. Management changes in Heinz were the reason behind the breakup. In a statement, McDonald's Corp said, "As a result of recent management changes at Heinz, we have decided to transition our business to other suppliers over time."
In June , Bernardo Hees became the head of Heinz. Hees used to be the Chief Executive Officer of McDonald's rival Burger King after investment firm 3G Capital and Warren Buffet's Berkshire Hathaway bought the fastfood chain three years ago. He is still a Vice Chairman of the Board of Directors at Burger King.
According to a Reuters report, McDonald's revenue increased 2.4% to USD 7.32 billion in the third quarter. Its net income also increased 4.6% to USD 1.52 billion. However, McDonald's warned that strong competition combined with slow economic recovery would result to flat worldwide sales this month.
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