Chris Kempczinski Named President and CEO and a Member of the
Board
Steve Easterbrook Separates as President and CEO and as a
Member of the Board
CHICAGO, Nov. 3, 2019 /PRNewswire/
-- McDonald's Corporation ("McDonald's") (NYSE: MCD)
today announced that its Board of Directors has named Chris Kempczinski, most recently President,
McDonald's USA, as President and
Chief Executive Officer, effective immediately. Kempczinski has
also been elected to the McDonald's Board of Directors.
Kempczinski succeeds Steve
Easterbrook, who has separated from the Company following
the Board's determination that he violated company policy and
demonstrated poor judgment involving a recent consensual
relationship with an employee.
"Chris takes the reins of this great company at a time of
strong, sustained performance, and the Board has every confidence
that he is the best leader to set the vision and drive the plans
for the Company's continued success. He has the right mix of skills
and experience to lead us forward having run our U.S. business,
where franchisees are delivering strong financial and operational
results, and overseen global strategy, business development and
innovation. In particular, Chris was instrumental in the
development of the Company's strategic plan, which has enabled
global growth and leadership, and has overseen the most
comprehensive transformation of the U.S. business in McDonald's
history," said Enrique Hernandez
Jr., Chairman of McDonald's Board of Directors.
Kempczinski said, "I'm thrilled to be leading this incredible
company. Working alongside our talented team, our Board, our
franchisees and suppliers, I am committed to upholding our rich
heritage of serving our customers and driving value for our
shareholders and other stakeholders. As one of the world's leading
brands, McDonald's makes a difference in the lives of people every
day. We have a responsibility not only to serve great food, but to
make it responsibly and to enrich the communities in which we
operate. I am energized by this challenge and look forward to
guiding McDonald's continued success."
McDonald's expects to file its Form 10-Q for the period ending
September 30, 2019, by Tuesday, November 5, 2019. The Company confirms
that this leadership transition is unrelated to the Company's
operational or financial performance.
About Chris
Kempczinski
Chris Kempczinski is President
and CEO of McDonald's, the world's largest restaurant company. He
previously served as President of McDonald's USA, where he was responsible for the business
operations of approximately 14,000 McDonald's restaurants in
the United States.
He first joined McDonald's in 2015, overseeing global strategy,
business development and innovation. In that role, he served the
business units and franchisees by identifying new ideas and best
practices to accelerate their growth and grow the overall value of
the system.
About McDonald's
McDonald's is the world's leading global foodservice retailer
with over 38,000 locations in over 100 countries. Approximately 93%
of McDonald's restaurants worldwide are owned and operated by
independent local business men and women.
FORWARD-LOOKING STATEMENTS
This release contains certain forward-looking statements, which
reflect management's expectations regarding future events and
operating performance and speak only as of the date hereof. These
forward-looking statements involve a number of risks and
uncertainties. The factors that could cause actual results to
differ materially from our expectations are detailed in the
Company's filings with the Securities and Exchange Commission, such
as its annual and quarterly reports and current reports on Form
8-K. The Company undertakes no obligations to update such
forward-looking statements, except as may otherwise be required by
law.
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