Chris Kempczinski has been hired to become McDonald’s new Chief Strategy Officer (CSO) effective October 26, 2015. Chris comes to McDonald’s from Kraft Foods Group and is expected to provide McDonald’s with leadership in finding other avenues for growth besides fast food. Chris previously worked at PepsiCo, Boston Consulting Group, and Procter & Gamble. At McDonald’s, Chris will manage all aspects of strategy development, planning, innovation, and new concepts. He will report to CEO Steve Easterbrook who selected an outsider as the new CSO in order to “shake up McDonald’s internal corporate culture.” Along with hiring Chris, McDonald’s also hired a new Global Communications Chief, a new Global Marketing Chief, and a new Global Chief People Officer. Whenever firms have declining sales and profits as McDonald’s has reported recently, numerous top executive changes usually occur.

Based on Julie Jargon, “McDonald’s Brings In New Strategy Chief,” Wall Street Journal, September 25, 2015, p. B3.