McDonald's newly minted CEO, Steve Easterbrook, is taking the right steps in trying to win over one of his most important constituents, franchisees, CNBC's Jim Cramer said Tuesday.
"I continue to be impressed by this new CEO's openness to try anything so the franchisees, which he has to win over, recognize that what he's trying to do is reinvigorate the chain," Cramer said on CNBC's "Squawk on the Street."
Cramer made his remarks after the company announced on Monday it is introducing table service in Germany. McDonald's also said it would make breakfast available all day to diners in the San Diego market as a test.
Easterbrook succeeded Donald Thompson as the company's chief executive on Jan. 28 after Thompson stepped down. The company's stock had underperformed versus the Dow Jones industrial average and the S&P 500 during Thompson's tenure, as it remained nearly flat while both indexes rose more than 30 percent. Since Easterbrook's takeover, the stock has risen about 10 percent, according to FactSet.
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McDonald's stock edged about 0.2 percent lower in early morning trading. Click here to see where the stock is trading now.