McDonald’s CEO will become chairman of the company’s board later this spring, the company said Tuesday. Chris Kempczinksi, who was named McDonald’s president and CEO in late 2019, will succeed McDonald’s Chairman Enrique Hernandez Jr., who is retiring after 28 years on the company’s board.
FILE - The sign outside a McDonald’s restaurant is shown in Pittsburgh, June 25, 2019. A federal judge in Texas has blocked a new rule by the National Labor Relations Board that would have made it easier for millions of workers to form unions at big companies.The rule, which was due to go into effect Monday, March 11, 2024, would have set new standards for determining when two companies should be considered “joint employers” in labor negotiations.
Historically, McDonald’s CEOs have also held the position of chairman. Jim Skinner was McDonald’s vice chairman and CEO from 2004-2012, for example. But the company’s subsequent CEOs broke that pattern. Don Thompson served as president and CEO from 2012-2015, while Steve Easterbrook was president and CEO from 2015-2019. Kempczinski took over as president and CEO afterKempczinski joined McDonald’s in 2015 as executive vice president of strategy, business development and innovation. Prior to that, he spent more 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 said in a statement.Reports: McDonald’s close to becoming French soccer league title sponsor for next three seasonsMcDonald’s also announced the nomination of Mike Hsu, the chairman and CEO of Kimberly-Clark Corp.
Kempczinski said Hsu is a veteran of the consumer products industry with a global perspective, which will help McDonald’s as it embarks on a period of unprecedented growth. In December, the companyMcDonald’s also noted that Hsu would help maintain a corporate goal of having 50% or more of its board members represent diverse backgrounds.
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