McDonald’s said on Wednesday that Don Thompson will retire as President and CEO and as a member of the Board of Directors after nearly 25 years of service to the company, effective on 1 March. The Board has elected Steve Easterbrook to replace Thompson as President and CEO. Easterbrook was also elected to the Board of Directors, filling the vacancy created by Thompson.
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.
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 organisation 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 US and European markets.
The McDonald’s Board of Directors on Wednesday elected Bensen and Ozan to their respective positions, which will also be effective on 1 March.