McDonald’s Announces Election of Next CEO After Poor Fourth-Quarter Results
Published at(NEW YORK) — Following the announcement of falling revenue for the fourth quarter of the 2014 fiscal year, McDonald’s Corporation elected its next CEO.
Current McDonald’s President and CEO Don Thompson is retiring after nearly 25 years with the company, and effective March 1, Steve Easterbrook will replace him in both roles, the company said. Easterbrook, currently the Senior Executive Vice President and Chief Brand Officer, has led efforts to elevate marketing, innovate the restaurant chain’s menus and create infrastructure for digital initiatives.
“I am grateful to have had the opportunity to work with Don and congratulate him on his remarkable career at McDonald’s,” Easterbrook said in a statement.
In additional corporate structuring, Pete Bensen, McDonald’s current senior executive vice president and CFO, will take on the role of Chief Administrative Officer, while Kevin Ozan, currently a senior vice president and corporate counselor, will take on Bensen’s responsibilities.
For the fourth quarter, McDonald’s announced a on- percent drop in sales and a two-percent decrease in revenues.
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