Dunkin' Brands hires McDonald's international executive
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An employee holds boxes of donuts ready for pick up at a newly opened Dunkin' Donuts store in Santa Monica, California September 2, 2014. REUTERS/Mario Anzuoni
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By Lisa Baertlein
(Reuters) - Dunkin' Brands Group Inc (NASDAQ: DNKN) on Thursday said it hired David Hoffmann, the McDonald's Corp (NYSE: MCD) executive in charge of high-growth markets, including China and Russia, to lead its U.S. and Canadian business.
Hoffmann, 48, is the latest long-time McDonald's executive to leave the company, which is in the midst of a major turnaround effort.
His departure after 22 years comes just weeks after the hamburger chain said Michael Andres would retire as president of McDonald's USA at the end of the year. Chief Administrative Officer Pete Bensen retired on Sept. 2.
McDonald's said in a Sept. 21 regulatory filing that Hoffmann failed to execute a non-compete agreement and forfeited benefits, including all unvested cash and equity incentive awards.
Joseph Erlinger, who had been the chief financial officer for McDonald's high-growth markets, will succeed Hoffmann, who starts his new position on Oct. 3.
(Reporting by Lisa Baertlein in Los Angeles; Editing by Dan Grebler)
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