SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 7, 1996
McDONALD'S CORPORATION
(Exact name of Registrant as specified in its Charter)
Delaware 1-5231 36-2361282
(State of Incorporation) (Commission File No.) (IRS Employer
Identification No.)
One McDonald's Plaza
Oak Brook, Illinois 60521
(630) 575-3000
(Address and Phone Number of Principal Executive Offices)<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(c) Exhibits
(99) Press Release dated October 8, 1996 - "McDonald's
Chairman Announces Management Re-Alignments To Further
Focus Leadership In Global Growth Arenas"
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
McDONALD'S CORPORATION
(Registrant)
By: /s/ Gloria Santona
--------------------------
Gloria Santona
Vice President,
Associate General Counsel
and Secretary
FOR IMMEDIATE RELEASE
10-08-96 Investors: Mary Healy, 630-575-6429
Media: Chuck Ebeling, 630-575-6150
MCDONALD'S CHAIRMAN ANNOUNCES MANAGEMENT RE-ALIGNMENTS
TO FURTHER FOCUS LEADERSHIP IN GLOBAL GROWTH ARENAS
OAK BROOK, IL -- McDonald's Corporation Chairman and CEO, Michael R.
Quinlan, today announced major re-alignments and promotions in McDonald's
management structure to bring further focus as the Company addresses the
growth potential of its U.S. and International operations.
"As we work to maximize McDonald's global growth potential, I've
decided to tap the depth of our highly experienced management to make
several key re-alignments, adding even more strength to our U.S.
management, while also bringing targeted additional expertise to our
corporate and international staffs," Mike Quinlan explained.
"While these changes are evolutionary, they will bring more
management firepower where we need it, both for the short and long terms.
These changes will bring all the benefits of our global experience to
bear on each of the markets in which we operate, to further strengthen
our growth opportunities. In a complex, dynamic and difficult U.S.
marketplace, we are focusing on delivering great food taste, enhancing
the quality of service, strengthening strategic marketing and adding new
restaurants. In the International arena, which is already producing more
than half of our operating income, we are just beginning to tap enormous
markets across nearly 100 countries, as Brand McDonald's goes more global
every day," Quinlan added.
Jack M. Greenberg, currently McDonald's Vice Chairman and Chief
Financial Officer, takes on the newly created position of Chairman,
McDonald's U.S.A., while relinquishing the CFO position. Edward H. Rensi,
McDonald's U.S.A. President and Chief Executive Officer, now reports
directly to him. Greenberg's new title will be McDonald's Corporation
Vice Chairman and Chairman, McDonald's U.S.A. "Jack has provided
outstanding leadership since joining McDonald's as Executive Vice
President and CFO in 1982. He'll help us maximize the growth of the U.S.
business by adding the broad scope of his skills to our U.S. management
team. He will devote a significant amount of his time to working with Ed,
his team, and U.S. franchisees, providing domestic strategic direction,
and bringing additional leadership to all elements of our U.S.
business," Quinlan commented. Greenberg continues to report directly to
Quinlan, and continues in his corporate responsibilities, while Michael L.
Conley takes over Greenberg's duties as Chief Financial Officer.
Conley, currently McDonald's Senior Vice President and Controller, is
promoted to Executive Vice President and Chief Financial Officer. "Mike
is more than ready to take on the CFO position, "Quinlan added. "He
has served McDonald's for 22 years with increasing responsibilities in
the accounting and tax areas, and has been involved in a number of
management initiatives." Conley will report directly to Quinlan, and be
responsible for Accounting, Information Systems, Investor Relations, Tax,
Treasury. Christopher Pieszko, Vice President and U.S. Controller, is
promoted to Vice President and Corporate Controller, reporting to Conley.
Paul D. Schrage, Senior Executive Vice President, Chief Marketing
Officer and a member of the Board of Directors, has announced his
intention to retire within a year. "Paul has headed Marketing since
joining McDonald's 29 years ago, and guided the Golden Arches to our
position as one of the best-known and most-admired global consumer
brands, "observed Quinlan. "Over the near term, Paul, who has made
countless contributions to the growth of `Brand McDonald's' and the
success of the McDonald's System, will guide and assist in the transition
and re-alignment of the top Marketing priorities, as we strive to
lengthen our lead as the top global foodservice brand." Schrage will
continue as Chairman of Ronald McDonald House Charities.
To even more directly align McDonald's marketing initiatives with the
priorities of our U.S. and International operations, major changes are
being made in the responsibilities of the Company's two senior Marketing
executives. David B. Green, Senior Vice President, Marketing, will fill a
newly created position as the senior marketing officer of McDonald's
International, now reporting directly to James L. Cantalupo, President
and Chief Executive Officer, McDonald's International. "It's vital to
have an executive with David's 24 years of McDonald's experience guide
our International Marketing's direction and development, as we continue
to expand rapidly around the globe," said Quinlan. Brad A. Ball, Senior
Vice President, U.S.A. Marketing, takes over full responsibility for U.S.
Marketing, and will report directly to Ed Rensi. "Brad joined McDonald's
last year after working on our local business in many leadership roles
over more than 20 years at DBC Advertising in Los Angeles, and brings his
knowledge of national and field marketing to our U.S. Marketing team,''
said Quinlan.
McDonald's is the largest and best-known global foodservice retailer,
with more than 19,200 restaurants in 94 countries. Yet on any day, even
as the market leader, McDonald's serves less than one percent of the
world's population. The Company plans to expand its leadership position
by adding restaurants and by increasing sales and profits through
excellent operations, superior marketing, and cost efficiencies.
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