McKenna to retire from McDonald's board

Andrew J. McKenna, chairman of the board of McDonald's Corp. in Oak Brook, said Wednesday he will not stand for re-election as a member of the board at the company's annual shareholders' meeting on May 26.

"It has been a privilege and honor to be part of McDonald's growth and expansion throughout the years," McKenna said. "I am confident that the board will continue to deliver on our progress to enhance long-term shareholder value."

McKenna has been a director for 25 years and as chairman for the past 12 years. The board announced it has named McKenna as chairman emeritus after his retirement and will elect a new independent chairman following the election of directors by shareholders at the annual meeting.

"Andy's leadership helped guide McDonald's through some noteworthy highs and some challenging times," said Miles White, chairman of the Governance Committee of the company's board. "We thank Andy for his unwavering commitment and appreciate his willingness to continue sharing his insights with us."

"Andy's business integrity is an example for all of us to follow and we are deeply indebted for his tireless dedication and counsel," said Steve Easterbrook, McDonald's president and CEO.