McDonald’s names its CEO as new board chairman, faucets Kimberly-Clark exec as impartial director

McDonald’s CEO will turn out to be chairman of the corporate’s board later this spring, the burger chain stated Tuesday.Chris Kempczinksi, who was named McDonald’s president and CEO in late 2019, will succeed McDonald’s Chairman Enrique Hernandez Jr., who’s retiring after 28 years on the Chicago firm’s board. The transition will occur on the firm’s annual assembly, which is anticipated to be held in Might.Traditionally, McDonald’s CEOs have additionally held the place of chairman. Jim Skinner was McDonald’s vice chairman and CEO from 2004-2012, for instance.However the firm’s subsequent CEOs broke that sample. Don Thompson served as president and CEO from 2012-2015, whereas Steve Easterbrook was president and CEO from 2015-2019. Kempczinski took over as president and CEO after Easterbrook was fired for having a non-physical, consensual relationship with an worker.Kempczinski joined McDonald’s in 2015 as govt vp of technique, enterprise improvement and innovation. Previous to that, he spent greater than 25 years in senior positions at Procter & Gamble, PepsiCo and Kraft.“Having served alongside Chris, who is now in his fifth year as CEO, I know he is uniquely placed to unify the two roles of CEO and chairman to ensure McDonald’s advances in lockstep with today’s ever-changing business and social landscape,” Hernandez stated in an announcement.McDonald’s additionally introduced the nomination of Mike Hsu, the chairman and CEO of Kimberly-Clark Corp., as an impartial director on the board.Kempczinski stated Hsu is a veteran of the patron merchandise trade with a world perspective, which is able to assist McDonald’s because it embarks on a interval of unprecedented development. In December, the corporate introduced a plan to open practically 10,000 McDonald’s eating places worldwide over the subsequent 4 years.McDonald’s additionally famous that Hsu would assist preserve a company objective of getting 50% or extra of its board members characterize numerous backgrounds.

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