(Reuters) -McDonald's said on Tuesday CEO Chris Kempczinski will take on an additional role as chairman of the board after the retirement of Enrique Hernandez.
The retirement of Hernandez, who has been on McDonald's board for 28 years, is effective as of the date of the company's 2024 annual shareholders' meeting.
The fast-food chain also announced the nomination of Mike Hsu, chairman and CEO of Kimberly-Clark, as an independent director of the board.
Shares of McDonald's were up nearly 2% in morning trade.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shilpi Majumdar)
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