Andrew McKenna McDonald’s Non- Executive Chairman is Retiring at 86
On Wednesday, McDonald's said its chairman, Andrew McKenna, will step down from the company's board after May's annual shareholder meeting. McKenna had a long tenure at McDonald's board as a director. He has been an important figure in the burger chain for twenty five years he had served as a chairman of the board for the last twelve years since 2004.
He is also counted among the most influential people in Chicago and has been called "the power behind the throne". Initially, McKenna planned to retire from McDonald's board in 2003. At that time he reached the mandatory retirement age of 73 for McDonald's directors but the age limit was later removed. However he continued to be on the board while McDonald's had a time when its CEO's changed. McKenna 86, has seen seven different CEOs at McDonald's.
The board will be electing a new independent chairman after the shareholders elect directors at the annual meeting scheduled on May 26. McKenna will have the title of Chairman Emeritus he retires.
McKenna joined McDonald's board in 1991when the chain has just started to focus on international growth. It opened its first location in Moscow started selling burgers in 1992 in Warsaw. McDonald's, which is the largest restaurant chain company in the world in terms of sales, has 36,000 locations now in hundred or more countries.
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