McDonald's Names New President Of U.S. Ops

McDonald's Corp. said late Wednesday Mike Andres, its president of U.S. operations, will retire at the end of the year. The fast-food giant named Chris Kempczinski, who serves as vice president of strategy and business development, as a replacement. Andres and Kempczinski will work together to ensure a smooth transition, the company said. Kempczinski joined McDonald's last year from Kraft Foods Group, now Kraft Heinz. Shares of McDonald's were flat in late trading after ending the regular session up 0.3%.

Copyright © 2016 MarketWatch, Inc.