LAUSANNE: The International Olympic Committee has lost one of its long-time sponsors with the decision of McDonald’s to call last orders on its long-term deal after 40 years.
A parting ot the ways, three years ahead of time, was confirmed in a statement from Timo Lumme, managing director of IOC television and marketing services.
The IOC’s TOP sponsorship list now reads Alibaba, Dow, Panasonic, P&G, Coca Cola, Samsung, Atos, General Electric, Visa, Omega, Toyota and Bridgestone with tech giant Intel newly signed-up to help, coincidentally, fill the financial gap created by McDonald’s exit.
Lumme said: “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. I would like to thank our friends at McDonald’s on behalf of the IOC for the commitment the company has shown to the Olympic Movement over many decades.”
Silvia Lagnado, rhe company’s global chief marketing officer, said: “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.”
The TOP partnership will end with immediate effect though McDonald’s will continue its local sponsorship up to and including the Winter Games in PyeongChang next year.
An IOC statement said it had “no immediate plans to appoint a direct replacement in the retail food operations sponsorship category, and will review the category in the broader context of existing Olympic marketing programmes.”