Fast food veteran McDonald’s and the International Olympic Committee (IOC) have announced that the partnership has ended.
According to a report by QSR magazine, the decision was mutual.
“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,” said McDonald’s global chief marketing officer, Silvia Lagnado.
“We have been proud to support the Olympic Movement.”
The IOC announced that it did not plan to replace McDonald’s sponsorship with another food brand.
“The IOC’s sponsorship strategy is aimed at delivering long-term partnerships that help the Olympic Movement achieve the objectives set out in Olympic Agenda 2020, our strategic roadmap for the future,” said Timo Lumme, managing director of IOC Television and Marketing Services, in a statement.
“This strategy is exemplified by the recent announcement of long-term, ground-breaking agreements with new and existing global partners. In today’s rapidly evolving business landscape, we understand that McDonald’s is looking to focus on different business priorities. For these reasons, we have mutually agreed with McDonald’s to part ways.”