The new CEO of McDonald’s, Steve Easterbrook, unveiled a turnaround plan for the fast food corporation Monday morning.

Easterbrook said in a video presentation that the recent performance was “poor” and that “the numbers don’t lie.”

Sales have fallen recently and the stock has been lagging.

In order to combat this, McDonald’s is reorganizing its international operations and plans to franchise more of its restaurants.

Easterbrook also wants to change the quality of the food and stale brand image.

However, investors don’t seem convinced. The stock was flat to slightly down in pre-market trading Monday as analysts digested the report.

Easterbrook stressed that McDonald’s has to innovate more. He promised that the company would return “excitement” to the brand and used the phrase “modern, progressive burger company” several times to describe the image McDonald’s wants to convey.

He added that the company must make better food. He touted new menu items like its sirloin burger and artisan grilled chicken sandwich.

“It is customers that decide if we succeed. The message is clear. We are not on our game,” he said.