McDonald's (MCD) announce Rick Lenny to retire from board

August 24, 2023 5:04 PM EDT

McDonald's Corporation (NYSE: MCD) today announced the retirement of Richard "Rick" Lenny from the McDonald's Board of Directors, effective October 31, 2023.

"Rick's contributions to McDonald's and its Board of Directors over the past 18 years have been immeasurable. His business acumen and extensive experience leading major consumer brands have enabled the Company to advance countless strategic objectives, and he has cultivated a lasting culture of decorum and camaraderie within our Board," said Enrique Hernandez, Jr., McDonald's Chairman of the Board. "As Chairman of the Compensation Committee, Rick has helped oversee several important initiatives, including the evolution of the Company's Executive Compensation program to more fully encompass our business and social impact. A founding member of our Sustainability & Corporate Responsibility Committee, he has been a steady voice in the development and evolution of McDonald's sustainability strategies."

"Rick is a civic-minded leader with a keen understanding of the challenges facing people and businesses today, and his counsel has been instrumental in helping position the Company and our System for long-term growth," said Chris Kempczinski, McDonald's President and Chief Executive Officer. "We will carry forward Rick's legacy of leadership and community service as we continue to execute against our strategic priorities through our Accelerating the Arches growth plan. We thank him for his unwavering commitment to McDonald's."

Lenny joined McDonald's Board of Directors in 2005 and has served as the Chair of the Compensation Committee since 2019. In addition to his service to McDonald's, Lenny serves on the Boards of Conagra Brands and Illinois Tool Works.

"It has been an honor to serve on McDonald's Board for the last 18 years, supporting the Company as it has successfully navigated an ever-evolving macroeconomic and industry landscape. I am particularly proud of the work we've done to reward our shareholders exceptionally well over the long-term and serve them through sound governance, oversight and an unwavering commitment to doing what's right," said Lenny. "I look forward to cheering on McDonald's success for years to come."

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Board Changes