McDonald’s Names New President

McDonald's Corporation's (NYSE: MCD - news) chairman and chief executive officer Jack M. Greenberg announced December 2 the promotion of James R. Cantalupo, vice chairman of McDonald's Corporation, and chairman and chief executive officer of McDonald's International, to vice chairman and president , effective immediately.

In making the announcement, Greenberg said, "It is my personal pleasure to announce the promotion of Jim Cantalupo to the position of President of McDonald's Corporation. This promotion recognizes Jim's value to the company, and the extraordinary job he has done in leading our international growth. It is intended to enable him to more effectively partner with me on overall global management responsibility for this great business."

Greenberg also announced the promotion of Claire Babrowski, executive vice president, Restaurant Systems, to the newly created position of executive vice president of worldwide restaurant systems, reporting to Cantalupo. In her new capacity, Claire will serve with broad worldwide functional responsibilities.

"Claire Babrowski has done an excellent job leading our U.S. Restaurant Systems group over the past two years," Greenberg said. "I am confident she will make significant contributions for our entire system in this new role."

In making this announcement, Greenberg noted, "With these two important promotions, we recognize that we have become a truly global organization spanning 118 countries and our management philosophy and organization must evolve accordingly. We must operate with a global mindset and accept our worldwide responsibilities. Jim and Claire's new roles will strengthen our organization and greatly enhance our ability to succeed in our mission to be the world's best quick service restaurant experience."