McDonald's names its CEO as new board chairman, taps Kimberly-Clark exec as independent director

McDonald’s CEO will become chairman of the company’s board later this spring, the company said Tuesday. Chris Kempczinksi, who was named McDonald’s president and CEO in late 2019, will succeed McDonald’s Chairman Enrique Hernandez Jr., who is retiring after 28 years on the company’s board. The transition will happen at the company’s annual meeting, which is expected to be held in May. Historically, McDonald’s CEOs have also held the position of chairman. Kempczinski joined McDonald's in 2015 after a career at PepsiCo and other consumer brands. He became McDonald's president and CEO after his predecessor was fired for having a relationship with an employee.