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  "documentTitle": "McDonald's Corporation (MCD)",
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      "kind": "callout",
      "text": "\"Earn the Right to Own\" McOpCo's restaurant portfolio needs to be optimized in order to improve margins and capital allocation",
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      "text": "Refranchise select units in mature markets -> Redeploy capital and resources in emerging markets -> McOpCo increases focus on emerging markets growth",
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      "text": "Capital and freed-up resources from refranchising should be redeployed in fast growing / high return emerging QSR markets. Regions where franchise laws are still in infancy and McDonald's franchise base is not yet sufficient to drive growth. e.g., China and Russia",
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