McDonald’s CEO Kempczinski provides Chairman to function By Investing.com

CHICAGO – McDonald’s Company (NYSE: NYSE:) introduced as we speak the retirement of Enrique “Rick” Hernandez, Jr., who will step down from his function as non-executive Chairman of the Board on the 2024 Annual Shareholders’ Assembly.

Chris Kempczinski, presently serving because the President and Chief Government Officer, is about to tackle the extra function of Chairman. Concurrently, Miles White will turn out to be the Lead Unbiased Director.

The corporate has additionally nominated Mike Hsu, Chairman and CEO of Kimberly-Clark Company (NYSE:), to hitch its Board as an impartial director. Hsu’s intensive background within the shopper merchandise trade is anticipated to offer worthwhile insights to the McDonald’s Board.

Throughout Hernandez’s 28-year tenure, McDonald’s has seen important progress, together with a greater than 2,000% whole shareholder return and a doubling of its restaurant depend. Hernandez expressed pleasure within the firm’s evolution and confidence in Kempczinski’s capacity to steer McDonald’s by way of the altering enterprise and social panorama.

Kempczinski praised Hernandez for his advisory function and contributions to the corporate since 1996, acknowledging his steerage by way of durations of change. Because the incoming Chairman, Kempczinski is dedicated to advancing the corporate’s “Accelerating the Arches” technique and sustaining sturdy efficiency.

He additionally emphasised the significance of agility in as we speak’s dynamic setting and his intention to collaborate with White to make sure accountability and governance.

Hsu, along with his nomination pending, shared his enthusiasm for becoming a member of the Board and contributing to McDonald’s sustained progress and world influence.

McDonald’s, acknowledged because the world’s main world foodservice retailer, operates over 40,000 areas in additional than 100 international locations, with the overwhelming majority being independently owned and operated.

This announcement relies on a press launch assertion from McDonald’s Company.

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