Can you please help me by writing about the international financial manager of McDonald's? Describe their position. What is their background? In terms of taking care of foreign risks, what is their approach? Explain in detail with examples.© BrainMass Inc. brainmass.com March 21, 2019, 10:35 pm ad1c9bdddf
The response address the queries posted in 1051 words with references.
//This paper discusses Mr.Bensen, who is currently the international finance manger of the McDonald's corporation. Mr. Bensen is currently holding the responsibility for financial matters for McDonald's corporation consisting of Accounting, Controls, and Tax etc. These are described below.//
McDonald's Corporation is the best global food-retailer all around the world, with approximately 29,000 restaurants in more than 120 countries. In Canada, McDonald's opened its first foreign franchise in 1967. In all over the world, more than 70% of McDonald's restaurants are owned and operated by independent domestic men and women.
Today, in McDonald's more than 65% of the revenue is collected internationally, as more and more restaurants are opened outside the U.S., Which leads to more foreign exchange and interest rate risk. So, to solve this problem an international financial manger is required in McDonald's, who may look after all these operations. Peter J. Bensen is the current CFO (chief financial officer) or the international financial manger of McDonald's corporation.
He is currently responsible for financial matters of the McDonald's Corporation consisting of Accounting, Controls, Tax, Treasury, Internal Audit and Investor Relations as well as Facilities, IT, Shared Services and Aviation. McDonald's Corporation announced that Peter J. Bensen, at that time McDonald's Corporate Controller and Senior Vice President, had been chosen as the company's Executive Vice President and CFO (Chief Financial Officer), effective from January 1, 2008 (McDonald's Corporation Annual report 2010, 2010).
Bensen was brought through by Matthew Paull, who retired after an era of import career with the company. Bensen, 45, is ...