Important changes for McDonald’s, starting with the company’s CEO
The Board of Directors of McDonald's Corporation elected Steve Easterbrook to become President and CEO of the company, effective March 1.
He replaces Don Thompson, who announced his retirement as President and Chief Executive Officer and as a member of the Board of Directors after nearly 25 years of service to the company.
"Steve (photo: left) is a strong and experienced executive who successfully led our UK and European business units and the Board is confident that he can effectively lead the Company to improved financial and operational performance," said Andrew McKenna, non-executive Chairman of the Board of Directors.
McKenna continued: "On behalf of the Board I sincerely thank Don (photo: right) for his valuable contributions and outstanding service throughout his career at McDonald's. We will be indebted for his passionate leadership, business acumen, dedication and system knowledge." In announcing his retirement, Thompson said.
"It's tough to say goodbye to the McFamily, but there is a time and season for everything. I am truly confident as I pass the reins over to Steve, that he will continue to move our business and brand forward."
Prior to this promotion, Easterbrook was Senior Executive Vice President and Chief Brand Officer, leading McDonald's efforts to elevate its marketing, advance menu innovation, and create an infrastructure for its digital initiatives. An accomplished, McDonald's veteran, Easterbrook previously served in key leadership roles across the company's global business, including president of McDonald's Europe.
Pete Bensen, the new CAO
In addition, Pete Bensen, Senior Executive Vice President and Chief Financial Officer, is promoted to the newly-created role of Chief Administrative Officer. In his new position reporting to Easterbrook, Bensen will oversee a number of functions supporting the company's operations. Kevin Ozan, who currently serves as Senior Vice President and Corporate Controller, will succeed Bensen and is promoted to Executive Vice President and Chief Financial Officer.
As CFO, Ozan will report to Bensen and will be responsible for managing the global financial organization and leading the development and execution of the company's fiscal strategies. Ozan brings broad financial experience and has held senior-level positions in the company's Finance, Investor Relations and Accounting departments with assignments in both the U.S. and European markets. The McDonald's Board of Directors today elected Bensen and Ozan to their respective positions, which will also be effective March 1.
Margo Georgiadis, elected as Director
On the other hand, Board of Directors elected Margo Georgiadis as a Director of the company. Georgiadis, 50, is President of Americas at Google, where she leads the company's businesses in North America and Latin America.
"As we head into 2015, Margo brings unique capabilities and additional dimensions to our Board," said Andrew McKenna, McDonald's Chairman of the Board. "We're pleased to welcome her and look forward to the insights she will bring as a Director."
Prior to her current role, Georgiadis held senior level positions at Groupon, Discover Financial Services, and McKinsey and Company. Georgiadis has extensive knowledge of technology, marketing, consumer insights, strategy and business development, and risk assessment.
Georgiadis has a bachelor's degree in economics from Harvard College and an MBA from Harvard Business School. She also serves on a number of nonprofit boards.
McDonald's is the world's leading global foodservice retailer with over 36,000 locations serving approximately 69 million customers in over 100 countries each day. More than 80% of McDonald's restaurants worldwide are owned and operated by independent local business men and women.
