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McDonald’s ending longtime Olympic partnership

McDonald’s will no longer be a “Proud Sponsor of the Olympic Games.” In a surprise move, after 41 years of partnership, the world’s largest fast-food chain is ending it’s sponsorship of the world’s largest athletic competition — three years earlier than originally planned. McDonald’s Corp. was set to sponsor the Olympics through the 2020 Games, but according to a joint press release from the International Olympic Committee and the fast-food chain, McDonald’s executives have decided to take their business in a different direction. “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,” McDonald’s global chief marketing officer Silvia Lagnado said. The financial details weren’t released, but the contract extension that McDonald’s signed in 2012 was worth about $200 million, ABC News reported. “We have mutually agreed with McDonald’s to part ways.…