Meet new CEO Chris Kempczinski.
Before get to his career highlights, here's the latest on McDonald's.
CEO Steve Easterbrook was fired by McDonald's board over the weekend for having a consensual relationship with an employee. Easterbrook stepped down from the board as well. McDonald's shares fell 1.65% to $190.74 apiece Monday. Piper Jaffray analyst Nicole Miller Regan downgraded the stock to neutral from overweight and lowered her price target to $195 from $224. She said "Our experience leads us to take a more cautionary view noting the potential lack of momentum and time involved in formalizing a new team."
Under Easterbrook, the stock gained 95% from March 1 2015 to Monday. That beat the S&P 500's gain of 48%.
With that in mind, McDonald's investors can at least take solace in the fact that Kempzcinski is certainly experienced in the food retail business.
Investors may very well be glad to see that Kempzcinski had a hand in helping shape McDonald's innovative initiatives, which have been instrumental in driving revenue growth in the past few years. McDonald's in-store kiosks make sales more efficient in physical locations. Perhaps more importantly, McDonald's has invested heavily in digital sales, using the growing adoption of online ordering to maintain sales growth. McDonald's has a sturdy partnership with Uber, allowing the fast food brand to be heavily featured on Uber Eats, Uber's food delivery app.
See everything Kempzcinki is bringing to the table in the video above:
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