By Jonathan Davies

McDonald's has announced plans for a major, global restructure of its business to combat its "poor performance".

It follows financial results for the first-quarter of 2015 in which sales fell faster than expected.

The fast-food giant's chief executive Steve Easterbrook said he wanted more "digital engagement".

"The numbers don't lie," he said. "I will not shy away from the urgent need to reset this business... and how we galvanise competitive threats."

The [nurl=https://mcdonalds.webcasts.com/viewer/event.jsp?ei=1063465]restructure plans[/nurll] will see McDonald's condense its management structure and increase the number of franchised restaurants.

"In the last five years, the world has moved faster outside the business than inside," he added. "We're not on our game.

"We'd like less simple talk of millennials [people born between 1980 and the mid-2000s] as though they are one simple group with shared attitudes."

Mr Easterbrook said McDonald's would focus on its key markets, like the US where it earns 40% of its income, Australia, Canada, France and the UK.

The McDonald's boss added: "We can no longer afford to carry legacy commitments, legacy structure or legacy attitudes."

The fast-food giant fell 1.7% on the Dow Jones stock index after the announcement.