McDondald's commits to more franchising

McDonald's CEO Jim Skinner has announced the corporations plans "to make a bigger commitment to franchising" by dropping its network ownership to under 30 per cent in the UK, Canada and other major markets.

"At the same time, we believe it is critical to own and operate a certain number of restaurants," says Skinner. "We call it 'skin in the game'. We are in the restaurant business. We are obligated to run credible restaurants."

The corporation currently owns 9,405 of more than 32,000 McDonald's restaurants around the world.