MCD McDonalds Corp

By Ezequiel Minaya 

McDonald's Corp. said Wednesday that retiring U.S. President Mike Andres would be succeeded by company executive Chris Kempczinski, effective Jan. 1.

Mr. Andres is a 30-year veteran of the chain and among the chief architects of McDonald's makeover in the last year as the fast-food giant went about trying to keep pace with shifting tastes toward fresher fare.

Mr. Kempczinski, meanwhile, joined McDonald's last year and is executive vice president of strategy, business development and innovation, coming over from Kraft Foods Group where he served as president of international and vice president of growth initiatives

"As we thank Mike for his contributions, we are confident Chris is the right leader to build upon our U.S. progress and bring a new level of convenience and excitement to the restaurant experience," said CEO Steve Easterbrook.

McDonald's has pushed to simplify its ingredients and satisfy increasingly conscientious customers. Most recently, the company said it would replace high-fructose corn syrup in its sandwich buns with sugar. The company also unveiled plans to roll out Chicken McNuggets and some breakfast items free of artificial preservatives.

Since taking over as chief executive last year, Mr. Easterbrook has pushed McDonald's to improve its familiar product offerings. The company also most notably boosted stalled sales by offering all-day breakfast in October.

Even though the company has posted four consecutive quarters of positive sales at McDonald's stores open at least a year, in the latest quarter the growth missed analysts' expectations.

Write to Ezequiel Minaya at Ezequiel.Minaya@wsj.com

(END) Dow Jones Newswires

August 31, 2016 17:51 ET (21:51 GMT)

McDonalds (NYSE:MCD)
Historical Stock Chart
From Mar 2024 to Apr 2024

McDonalds (NYSE:MCD)
Historical Stock Chart
From Apr 2023 to Apr 2024