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): April 30, 1998
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 60523
(630) 623-3000
(Address and Phone Number of Principal Executive Offices)
<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
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(c) Exhibit
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(99) Press Release dated April 30, 1998 -- Greenberg Named
McDonald's Chief Executive Officer; Cantalupo and Feldman
Promoted to Key Posts
<PAGE>
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
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Gloria Santona
Vice President, Deputy General Counsel
and Secretary
EXHIBIT 99
FOR IMMEDIATE RELEASE FOR MORE INFORMATION CONTACT:
04/30/98 Investors: Mary Healy 630-623-6429
Media: Chuck Ebeling 630-623-6150
GREENBERG NAMED McDONALD'S CHIEF EXECUTIVE OFFICER; CANTALUPO AND FELDMAN
PROMOTED TO KEY POSTS
OAK BROOK, IL -- Chairman Michael R. Quinlan and the Board of Directors of
McDonald's Corporation announced today the appointment of Jack M.
Greenberg to the position of President and Chief Executive Officer of the
worldwide company, effective August 1, l998.
Greenberg, currently Vice Chairman of the corporation and Chairman, CEO
of McDonald's USA, succeeds Quinlan as worldwide CEO, and will report
directly to the Board of Directors. Quinlan, who has held the CEO
position since 1987, continues as Chairman of the McDonald's Board.
In other Board actions:
James R. Cantalupo, currently President and CEO of McDonald's
International, has been promoted to the post of Vice Chairman, McDonald's
Corporation, and Chairman and CEO, McDonald's International, reporting to
Greenberg. As Vice Chairman, Cantalupo will assume additional corporate
responsibilities, with Michael L. Conley, Executive Vice President and
Chief Financial Officer, reporting to him.
Alan D. Feldman, currently Division President, Northeast Division,
McDonald's USA, has been named President, McDonald's USA, reporting to
Greenberg.
In announcing these important management changes, Board Chairman Quinlan
said, "I'm proud to pass the baton to Jack Greenberg, because he is
thoroughly prepared to take on the challenging responsibilities of being
chief executive officer of the world's number one brand. Since joining
the company in 1982, he has demonstrated leadership in all aspects of our
business, and I speak for the entire board when I say there is no better
qualified or more enthusiastic person anywhere to take over executive
authority for the company.
"I've been CEO for more than a decade, and I think it is time to utilize
the tremendous depth of management skill at McDonald's as we move into
the next century," Quinlan continued. "I will remain actively involved
with McDonald's as board chairman, working to strengthen relationships
throughout the McDonald's system."
In accepting his new responsibilities, Greenberg said, "Mike Quinlan is
a good friend and a great boss. He has led McDonald's through the
greatest growth period in our company's history -- nearly tripling
systemwide sales, and more than quadrupling our total shareholder value.
He carried forward the pioneering work of our founder, Ray Kroc, and our
Sr. Chairman, Fred Turner, and in the process Mike solidified McDonald's
undisputed position as the world's leading food service organization. I
am thrilled, humbled, and deeply appreciative to Mike Quinlan and the
Board for giving me the unparalleled opportunity to lead this great
global company.
"I'm delighted that Jim Cantalupo, who has done an outstanding job of
leading our international expansion for more than a decade, will expand
his influence as Vice Chairman of the corporation. And in Alan Feldman,
we have selected a thoughtful and decisive leader to continue the
momentum that the entire U.S. team has established.
"I see a bright future ahead with continuing profitable growth for the
company, our owner/operators, suppliers, and shareholders," Greenberg
continued. "I'm proud of the initiatives our team has underway in the
United States, and equally confident that our growth strategies
internationally are on target. We have outstanding executives in place
to lead these broad sectors of our business, and together we will work to
leverage the strength of our brand globally. Additionally, with Jim
taking on additional corporate responsibilities, I will be able to
maintain a sharp focus on our global operations objective of ensuring
that McDonald's provides our customers with the best restaurant
experience in the world."
JACK M. GREENBERG
PRESIDENT & CHIEF EXECUTIVE OFFICER
McDONALD'S CORPORATION
Jack M. Greenberg was appointed president and chief executive
officer of McDonald's Corporation, effective August 1, 1998.
Prior to this post, he served as vice chairman of McDonald's
Corporation, and chairman and chief executive officer of McDonald's
U.S.A.
He has been a member of McDonald's board of directors since he
joined the company in 1982 as executive vice president and chief
financial officer. In February, 1990, he was promoted to senior
executive vice president, and in January, 1992, to vice chairman.
Prior to his promotion to vice chairman, Greenberg worked directly
in field operations in 1990 and as a regional manager in 1991. In
October of 1996, Greenberg was named chairman of McDonald's U.S.A., and
chief executive officer in July of 1997.
Before joining McDonald's, Greenberg was director of tax services
for both the Midwest region and the Chicago office of Arthur Young &
Company. He joined Arthur Young & Company in 1964, became a partner in
1974, and was named director of tax services for the Chicago office and
for the Midwest region in 1975 and 1977, respectively. He was elected to
the firm's management committee in 1981.
A graduate of DePaul University School of Commerce, Greenberg also
earned a juris doctor degree from DePaul University School of Law. He is
a certified public accountant and a member of the American Institute of
Certified Public Accountants, the Illinois CPA Society and the Chicago
Bar Association, where he served as former chairman of the federal tax
committee and was president of the board of trustees of the Chicago Bar
Foundation. He also served on the board of the Chicago Association of
Commerce and Industry (CACI) and Kinder-Care Learning Centers, Inc.
Currently, Greenberg serves on the board of directors of Arthur J.
Gallagher and Company, Harcourt General and Stone Container Corporation.
Presently, he is vice chairman of the board of trustees of DePaul
University. Previously, he served as chairman of the board of trustees
at DePaul. He is a member of the Chicago Lighthouse of the Blind Capital
Campaign Steering Committee.
In addition, he serves on the board of The Executives' Club of
Chicago and is a member of Chicago's Commercial Club. He is an honorary
director of the American-Israel Chamber of Commerce and Industry, Inc.,
of Metropolitan Chicago.
He has lectured at DePaul University School of Law and in the DePaul
University College of Commerce masters in taxation program.
Greenberg and his wife, Donna, have one son and two daughters.
ALAN D. FELDMAN
PRESIDENT - McDONALD'S USA
Alan D. Feldman was named president for McDonald's USA, effective
August 1, 1998.
Prior to his appointment, he served as president of the Northeast
Division. As president of the Northeast Division, he was responsible for
more than 2,300 restaurants in the Northeastern United States. He was
promoted to this post in July of 1997.
Previously, he served as senior vice president and zone manager, a
post he was named to in July of 1996, responsible for the operations of
McDonald's restaurants and new restaurant development for five eastern
McDonald's regions.
Before joining McDonald's in 1994 as a zone manager and corporate
vice president, he held a variety of positions with Pizza Hut, Inc.,
starting in 1986. While at Pizza Hut, he served as senior vice
president, business strategy, and chief financial officer. Prior to
that, he had responsibility for the company's 5,000 domestic units.
In addition, he has held director-level positions with Frito Lay,
served as a principal consultant with A.T. Kearney Management Consultants
and worked as vice president of operations at Cidair Structures
Corporation.
Feldman earned both his master's of business administration degree
and his bachelor's degree from the University of Illinois.
He and his wife, Deborah, and their three children, reside in
Hinsdale, IL.
JAMES R. CANTALUPO
VICE CHAIRMAN - McDONALD'S CORPORATION
CHAIRMAN & CHIEF EXECUTIVE OFFICER McDONALD'S INTERNATIONAL
James R. Cantalupo serves as vice chairman of McDonald's Corporation
and chairman and chief executive officer of McDonald's International,
effective August 1, 1998.
Prior to this post, he was president and chief executive officer,
McDonald's International, and has been a member of the board of directors
of McDonald's Corporation since 1987.
Cantalupo joined the company as controller in 1974, after eight
years with Arthur Young & Company. He was promoted to vice president in
1975 and senior vice president in 1981. Since then, Cantalupo served as
district manager in Chicago region, and in 1985 was appointed zone
manager with responsibility for McDonald's operating regions in the
northeastern U.S. He was appointed to president, McDonald's
International in 1987, and president and chief executive Officer in 1991.
He serves on the board of directors of Morton International. He
also serves as a member of the board of trustees of the National Multiple
Sclerosis Society, Chicago chapter, and served for two years as its
Chairman. He is a past president of the International Federation of the
Multiple Sclerosis Societies and currently serves on its board of
directors.
In addition, Cantalupo serves on the board of trustees of Ronald
McDonald House Charities (RMHC), and previously served as a director of
the Northern Trust Bank/DuPage.
A graduate of the University of Illinois, Cantalupo is a certified
public accountant. He and his wife, JoAnn, have two children.
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