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Chris Kempczinski

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Chris Kempczinski
Born
Christopher John Kempczinski

1967 or 1968 (age 56–57)[1]
Boston, Massachusetts, US
EducationDuke University (BA)
Harvard University (MBA)
TitlePresident, chairman and CEO, McDonald's
Term2019–present
PredecessorSteve Easterbrook
Children2

Christopher John Kempczinski is an American business executive, and the president, chairman and chief executive officer (CEO) of McDonald's Corporation.

Early life

[edit]

Christopher John Kempczinski was born in Boston,[2] and raised in Cincinnati, Ohio.[3] He is the son of Richard Kempczinski, who was Professor of Surgery and Chief of Vascular Surgery at the University of Cincinnati Medical Center,[4] and Ann Marie Kempczinski (née Campbell), who was a primary school teacher at Terrace Park Elementary in Cincinnati, Ohio.[5] He graduated in 1987 from Indian Hill High School in suburban Cincinnati.[6]

Kempczinski earned a bachelor's degree from Duke University in 1991,[7] and an MBA from Harvard Business School in 1997.[8][9]

Career

[edit]

Kempczinski started his career with Procter & Gamble in brand management, and worked for four years in its soap sector division, before leaving to attend Harvard Business School (HBS). After HBS, he became a management consultant at the Boston Consulting Group, focusing on consumer products and pharmaceuticals.[5]

In 2000, Kempczinski joined PepsiCo in its corporate strategy & development group, and in 2006, was VP, Marketing, Non Carbonated Beverages, Pepsi-Cola North America Beverages.[5]

Before joining McDonald's, Kempczinski worked for Kraft Foods as executive vice president of growth initiatives, and president of Kraft International.[10] He left Kraft in September 2015.[9]

Kempczinski joined the McDonald's global strategy team in late 2015, and was promoted to president of McDonald's USA in October 2016 where he oversaw the business operations of approximately 14,000 restaurants.[9][11][12] In November 2019, he succeeded Steve Easterbrook as president and CEO.[13] Easterbrook was fired for violating company policy by having a relationship with an employee.[14] Shortly after joining the company, Kempczinski moved to create a "more professional culture" among executives and other staff, focusing on human resources.[15]

In November 2020, Kempczinski launched a new digital approach to sales mainly for drive thru, home delivery and pick up, known as "Accelerating the Arches."[16][17] In 2023, McDonald's unveiled 'Accelerating the Arches 2.0,' focusing on delivery, drive-thru, and development.[18]

In 2021, Kempczincki apologized to employees and the public for private remarks he made about the gun deaths of children at McDonald's. In correspondence with Mayor Lightfoot of Chicago, he blamed parents of the victims: "With both, the parents failed those kids which I know is something you can't say. Even harder to fix."[19] Publication of the exchange "sparked outrage."[20] Chicago civic groups and the Service Employees International Union demanded Kempczinski apologize, saying "Your text message was ignorant, racist and unacceptable coming from anyone, let alone the CEO of McDonald's."[21]

In response to the Russian invasion of Ukraine, Kempczinski decided to suspend sales and operations for all company-owned restaurants in Ukraine indefinitely, while continuing to compensate Ukrainian employees. Similar operational changes were initially implemented in Russia, until McDonald's announced a complete withdrawal of business in the country in May. In Russia, his plan impacted 853 restaurants and approximately 62,000 employees.[22]

In a 2022 speech addressing the Economic Club of Chicago, Kempczinski expressed concerns about the impact of crime on business in the city and encouraged public–private partnerships to enhance safety.[23][24][25]

As of March 2024, Kempczinski is also chairman of McDonald's.[26]

Compensation

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In 2021, Kempczinski's total compensation from McDonald's was $20 million.[27] In 2023, Kempczinski's total compensation from McDonald's was $19.2 million, or 1,212 times the median employee pay at McDonald's for that year.[28]

Recognition

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Kempczinski received the Distinguished Alumni Award from the Indian Hill Foundation,[29] and was named a person "shaping retail's future" by the NRF Foundation (the philanthropic branch of the National Retail Federation).[30][31]

Board seats and associations

[edit]

Personal life

[edit]

Kempczinski is married with two children.[5] He has run marathons,[36] and as of 2020 was running at least 50 miles (80 km) a week.[37]

References

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  1. ^ Haddon, Heather (November 3, 2019). "McDonald's Fires CEO Steve Easterbrook over Relationship with Employee". The Wall Street Journal. Retrieved November 4, 2019.
  2. ^ "Christopher Kempczinski President & CEO and Member of the Board" (PDF). McDonalds. Archived from the original (PDF) on September 23, 2022. Retrieved September 23, 2022.
  3. ^ Lee, Allen (November 23, 2019). "20 Things You Didn't Know Zbout Chris Kempczinski". Money Inc. Retrieved September 15, 2020.
  4. ^ "Richard Kempczinski Obituary - Cincinnati, Ohio". Legacy.com. Retrieved November 3, 2019.
  5. ^ a b c d "The Advertising Hall of Achievement: 2008 Inductees". American Advertising Federation. Retrieved November 3, 2019.[permanent dead link‍]
  6. ^ Brunsman, Barrett J. (November 4, 2019). "New McDonald's CEO is Indian Hill High grad who began career at P&G". Cincinnati Business Courier.
  7. ^ Ruggless, Ron (November 4, 2019). "Who is McDonald's CEO Chris Kempczinski?". Nation's Restaurant News.
  8. ^ "Bloomberg profile: Chris Kempczinski". Bloomberg Markets. Retrieved November 3, 2019.
  9. ^ a b c Morrell, Dan (November 30, 2017). "Happy Meals (Are Here Again)". Harvard Business School Alumni. Retrieved November 3, 2019.
  10. ^ "Chris Kempczinski". McDonald's. Retrieved November 3, 2019.
  11. ^ Grothaus, Michael (November 4, 2019). "Who is Chris Kempczinski, McDonald's new CEO? 5 things you need to know". Fast Company. Retrieved September 15, 2020.
  12. ^ "Factbox: Meet McDonald's new CEO: Chris Kempczinski". Reuters. November 4, 2019. Retrieved September 15, 2020.
  13. ^ "McDonald's CEO steps down after relationship with employee". Evening Express. Press Association. November 3, 2019. Archived from the original on November 5, 2019. Retrieved November 3, 2019.
  14. ^ Kavilanz, Parija (January 9, 2023). "SEC fines McDonald's ex-CEO Easterbrook $400,000 for misleading investors about his firing | CNN Business". CNN. Retrieved March 26, 2024.
  15. ^ Rogers, Kate; Lucas, Amelia (January 6, 2020). "McDonald's new CEO takes aim at the company's 'party' culture". CNBC. Retrieved January 24, 2023.
  16. ^ Edgecliffe-Johnson, Andrew (January 6, 2023). "McDonald's to up pace of restaurant openings and hold 'tough' talks on staffing". Financial Times.
  17. ^ Kowitt, Beth (November 9, 2020). "McDonald's responds to the pandemic with faster drive-thrus, loyalty points, and a new chicken sandwich". Fortune.
  18. ^ "McDonald's unveils Accelerating the Arches 2.0 | Food Business News". www.foodbusinessnews.net. Retrieved March 26, 2024.
  19. ^ "McDonald's CEO sparks outrage with comments about parents of slain Chicago children". Retrieved November 2, 2021.
  20. ^ "Outrage as McDonald's CEO appears to blame parents of slain Chicago children". The Guardian. November 4, 2021. Archived from the original on April 13, 2023.
  21. ^ "McDonald's CEO Apologizes for Text Exchange About Shooting Deaths". The Wall Street Journal.
  22. ^ Colvin, Geoff (July 27, 2022). "Exclusive: Inside McDonald's months-long decision to sell all 853 stores in Russia—and lose a significant chunk of global revenue with them". Fortune. Retrieved March 30, 2023.
  23. ^ Soglin, Talia (September 14, 2022). "McDonald's plans to expand West Loop HQ, but CEO says city needs to 'face facts' about downtown business climate". Chicago Tribune. Retrieved March 30, 2023.
  24. ^ Dudek, Mitch (September 14, 2022). "'What is the plan?' McDonald's CEO asks about city's crime problem". Chicago Sun-Times. Retrieved March 30, 2023.
  25. ^ Haddon, Heather (September 14, 2022). "McDonald's CEO Raises Crime Concerns for Business in Chicago". The Wall Street Journal. Retrieved March 30, 2023.
  26. ^ Jonathan Maze (March 19, 2024). "Chris Kempczinski to become McDonald's chairman". Restaurant Business. Retrieved March 23, 2024.
  27. ^ Jackson, Sarah (July 22, 2022). "Here are the 20 companies with the biggest pay gap between CEOs and workers in 2021, including Amazon, Apple, Starbucks, and McDonald's". Business Insider. Archived from the original on February 14, 2024. Retrieved August 31, 2024.
  28. ^ Anderson, Sarah (August 29, 2024). "Executive Excess 2024: The "Low Wage 100" corporations are enriching CEOs at the expense of workers and long-term investment" (PDF). Institute for Policy Studies. Archived (PDF) from the original on August 29, 2024. Retrieved August 31, 2024.
  29. ^ "Foundation recognizes Kempczinski, Kendle". Movers & Makers: 56. August 2022.
  30. ^ Garner, Stephen (April 14, 2022). "NRF Foundation Raises Over $3M for Future Retail Leaders, Magic Johnson Honors Target CEO Brian Cornell". Footwear News. Penske Media Corporation. Retrieved March 21, 2023.
  31. ^ Moin, David (April 14, 2022). "NRF Foundation Gala Raises $3.22 Million". Women's Wear Daily. Retrieved March 21, 2023.
  32. ^ "Board of Director's Overview". Corporate.mcdonalds.com.
  33. ^ Grieve, Jack (March 19, 2024). "McDonald's plans to consolidate leadership in CEO". Crain's Chicago Business.
  34. ^ Brownfield, Andy (August 30, 2021). "P&G adding McDonald's CEO, a Cincinnati native, to board amid director overhaul". Cincinnati Business Courier.
  35. ^ "RMHC Board Members". Rmhc.org.
  36. ^ Vranica, Heather Haddon and Suzanne (January 5, 2020). "WSJ News Exclusive | McDonald's Looks Beyond Party Culture". Wall Street Journal. ISSN 0099-9660. Retrieved November 1, 2020.
  37. ^ Edgecliffe-Johnson, Andrew (November 27, 2020). "McDonald's new CEO eats at the chain twice a day (but runs 50 miles a week to burn it off)". Financial Post.
Business positions
Preceded by CEO of McDonald's
2019–Present 		Incumbent
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