Denis Hennequin, president of McDonald's Europe, will step down at the end of the month, the company said Wednesday.
McDonald’s chief executive Jim Skinner said a succession plan for McDonald’s Europe was in place and that the company expects to name a replacement soon. Hennequin, who oversaw more than 6,800 restaurants in 39 countries, is leaving McDonald's to become chief executive of Accor SA, the largest hotelier in Europe.
In a research note Wednesday, restaurant securities analyst Larry Miller of RBC Capital Markets identified several McDonald's executives as possible successors to Hennequin, including Steve Easterbrook, who only a few months ago was named global chief brand officer, and Tim Fenton, president of McDonald’s Asia/Pacific, Middle East and Africa division.
Miller also speculated that the short list for Hennequin's replacement also could include three divisional presidents from within McDonald’s Europe: Bane Knezevic, president of the Western division; Khamzat Khasbulatov, president of the Eastern division; and Jean-Pierre Petit, president of the Southern division.
Hennequin had led McDonald’s European division since 2005 and focused a large part of that region’s strategy on franchise development. According to a report by Bloomberg LP, Accor has expressed interest in becoming Europe’s largest hotel franchisor by 2015.
Hennequin began working for McDonald’s in 1984 and was named president of McDonald’s France in 1996. He has been on the board of directors at Accor since 2009.
“Denis’ leadership made a tangible difference in our key segment of Europe,” Skinner said. “The European team’s dedication to our Plan to Win business strategy elevated the restaurant experience for our customers. We wish Denis well in his new role at Accor.”
McDonald’s chief operating officer Don Thompson added: “We appreciate Denis’ energy and passion for our brand. Our customers and our crew in Europe will continue to benefit from the momentum he helped to drive.”
Oak Brook, Ill.-based McDonald’s operates or franchises more than 32,000 restaurants in more than 100 countries.
Contact Mark Brandau at [email protected].
