01:50 PM EDT, 03/19/2024 (MT Newswires) -- McDonald's (MCD) on Tuesday said Chief Executive Chris Kempczinski will take on the additional role of chairman of the board, effective as of the date of the company's 2024 annual meeting.

Kempczinski will succeed Enrique Hernandez Jr., who will be retiring as the company's non-executive chairman, McDonald's said.

The company also named Kimberly-Clark ( KMB ) CEO Mike Hsu as an independent director.

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