OAK BROOK, Ill. – Andrew J. McKenna will not stand for re-election to the board of directors of McDonald’s Corp., the company reported. McKenna has served on the fast-food chain’s board for 25 years and spent the past 12 years as chairman.
|Andrew J. McKenna|
“It has been a privilege and honor to be part of McDonald's growth and expansion throughout the years," McKenna said in a statement. “I am confident that the board will continue to deliver on our progress to enhance long-term shareholder value.”
McDonald’s said McKenna will be Chairman Emeritus following his retirement. The board also will elect a new independent chairman following the election of directors by shareholders at McDonald’s annual meeting which is scheduled for May 26.
“Andy’s business integrity is an example for all of us to follow and we are deeply indebted for his tireless dedication and counsel,” McDonald’s president and CEO Steve Easterbrook said in a news release.