GLOBAL - The Board of Directors of McDonald's recently elected Steve Easterbrook to replace Don Thompson as President and CEO.
McDonald's declining sales in the US and globally appear to have inspired this change at the top spot. And Easterbrook is no stranger to change. He's received accolades for turning around the UK McDonald's business several years back. And many say he did that by targeting millennials.
"Steve 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.
Previously, Easterbrook served as Senior Executive Vice President, Global Chief Brand Officer, with responsibility for all aspects of global brand management including Marketing, Consumer and Business Insights, and Menu Development.
Steve began with McDonald’s in 1993 as a Financial Reporting Manager in London and went on to numerous restaurant and operations roles. In 2001, he was appointed Regional Vice President for the United Kingdom’s (UK) Southern Region. In 2005, he was promoted to Deputy Managing Director McDonald’s UK, and in 2006, to CEO McDonald’s UK. In these roles Steve was responsible for the operations of more than 1,200 restaurants.
In 2007, Steve assumed the role of Senior Vice President and Division President, Northern Europe, where he oversaw 1,800 restaurants in the UK, Ireland, Sweden, Denmark, Finland, Norway and Iceland. In 2010, he was promoted to Corporate EVP, Chief Brand Officer, and later to President, McDonald’s Europe, where he was responsible for the operations of nearly 7,000 restaurants in 39 countries.
In 2011, Steve left the company and became CEO of PizzaExpress LTD, and then served as CEO of Wagamama Limited – both UK-based restaurant chains.
He returned to McDonald’s in June 2013 and is based in Oak Brook, Illinois.
"I am grateful to have had the opportunity to work with Don and congratulate him on his remarkable career at McDonald's," said Easterbrook. "I am honored to lead this great brand, and am committed to working with our franchisees, suppliers and employees to drive forward our strategic business priorities to better serve our customers."
Coming off a highly rated US Super Bowl advertising campaign and a slight bump up in its stock price, perhaps McDonald's is primed for positive change.
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