McDonald's to Move Headquarters to Downtown Chicago
June 13 2016 - 11:40AM
Dow Jones News
McDonald's Corp. is moving its headquarters to downtown Chicago
from one of the city's suburbs, as more companies move into urban
centers to attract millennial talent.
The company said it would move its headquarters into the trendy
West Loop neighborhood of Chicago by 2018.
"This world-class environment will continue to drive business
momentum by getting us even closer to customers, encouraging
innovation and ensuring great talent is excited about where they
work," Chief Executive Steve Easterbrook said.
Companies like General Electric, Weyerhaeuser and now,
McDonald's are leaving behind their sprawling suburban headquarters
and moving to urban high-rises to appeal to the younger,
metropolitan workforce. Young, educated and relatively high-earning
workers are flocking to many American cities at a rate not seen
since the U.S. Census Bureau began tracking such data in the
1970s.
"McDonald's has identified the keys to success to today's global
market, talent, technology, and access to transportation networks,"
Chicago Mayor Rahm Emanuel said in a prepared statement. "I'm proud
to welcome them to our dynamic city."
The move is a return to the Windy City for McDonald's, which had
been based there between 1955 and 1971. It is currently based in
the Chicago suburb of Oak Brook, Ill.
The new Chicago headquarters will also house a "Hamburger
University" location, which provides training to many of the
company's employees and franchise owners.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
June 13, 2016 11:25 ET (15:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
McDonalds (NYSE:MCD)
Historical Stock Chart
From Mar 2024 to Apr 2024
McDonalds (NYSE:MCD)
Historical Stock Chart
From Apr 2023 to Apr 2024