McDonald's chairman to step down

by Monica Watrous
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Andrew McKenna, McDonald's
Andrew McKenna served on the board for 25 years.

OAK BROOK, ILL. — After 12 years as chairman of the board of directors of McDonald’s Corp., Andrew J. McKenna has announced plans to retire. Mr. McKenna, who served as a director for 25 years, advised the board he does not intend to stand for re-election at the company’s annual shareholders’ meeting on May 26. The board said it has named Mr. McKenna as chairman emeritus and will elect a new independent chairman following the election of directors at the annual meeting.

“Andy’s leadership helped guide McDonald’s through some noteworthy highs and some challenging times,” said Miles White, chairman of the governance committee of the company's board of directors. “We thank Andy for his unwavering commitment and appreciate his willingness to continue sharing his insights with us.”

Added Steve Easterbrook, president and chief executive officer of McDonald’s: “Andy’s business integrity is an example for all of us to follow and we are deeply indebted for his tireless dedication and counsel.”
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