McDonald's has confirmed long-time restaurant executive Mike Andres will take over as president of the chain's US operations as Jeff Stratton retires amid increased domestic competition.
Mr Stratton (58) will retire on October 15th after 41 years with the company, the Oak Brook, Illinois-based company said today in a statement.
Andres (56) has worked in multiple roles at the fast food chain, including leading its central US unit and the company's former Boston Market subsidiary.
He has been chief executive officer of Logan’s Roadhouse since early last year.
The world’s biggest restaurant chain, which gets almost a third of its revenue from domestic locations, has struggled to attract Americans this year as new chains lure away customers and established rivals introduce cheaper food deals.
Sales at US stores open at least 13 months fell 3.2 per cent in July.
The shares rose 0.2 per cent to $94.70 in New York this morning. McDonald’s had slid 2.6 per cent this year.
Bloomberg
