© Reuters.
CHICAGO – McDonald’s Company (NYSE: NYSE:) introduced in the present day 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, at the moment serving because the President and Chief Govt Officer, is about to tackle the extra function of Chairman. Concurrently, Miles White will grow to be the Lead Impartial Director.
The corporate has additionally nominated Mike Hsu, Chairman and CEO of Kimberly-Clark Company (NYSE:), to affix its Board as an impartial director. Hsu’s in depth background within the shopper merchandise business is predicted to supply helpful insights to the McDonald’s Board.
Throughout Hernandez’s 28-year tenure, McDonald’s has seen vital 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 capability to guide McDonald’s via the altering enterprise and social panorama.
Kempczinski praised Hernandez for his advisory function and contributions to the corporate since 1996, acknowledging his steering via intervals 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 in the present day’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 affect.
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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