Easterbrook, who succeeded the former group chief executive Don Thompson on 1 March, admitted that the fast food chain’s performance has been poor, that it was "not on our game" and highlighted his intention to "shape McDonald’s future as a modern, progressive burger company".
Easterbrook fronted a webcast published on McDonald’s website, in which he explained where McDonald’s is currently at and where he intends to take it.
He said the group had lost many of its connections with customers and was under greater threat from more customer-centric rival food chains. He said in the past five years the "world has moved faster outside the business than inside".
Easterbrook insisted that McDonald's needs to become more digitally engaged with customers and prospective customers and must embrace more sophisticated ways of viewing consumers.
He said: "We’d like less simple talk of millennials as though they are one simple group with shared attitudes.
"The numbers don’t lie. I will not shy away from the urgent need to reset this business."
The group said it would focus on its most lucrative markets, predominantly the US, but also countries including the UK, Australia, France and Canada as well as fast-growing markets such as China.