McDonald’s Corp. on Thursday named director Enrique Hernandez Jr. the company’s non-executive chairman.
Hernandez, 60, replaces Andrew McKenna, the longtime board member who had been chairman since 2004, but announced his decision to retire earlier this year. Hernandez was elected at McDonald’s annual shareholders meeting on Thursday.
Hernandez is the president and CEO of Inter-Con Security Systems Inc., based in Pasadena, and has been a director with McDonald’s since 1996.
“Rick has been a tremendous asset to the board,” McDonald’s CEO Steve Easterbrook said in a statement. “He provides strong counsel, has a deep knowledge and passion for the brand and shares our desire to continue delivering long-term value for our shareholders and the McDonald’s system.”
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Hernandez began his career as a litigation attorney with Brobeck, Phleger & Harrison in Los Angeles and joined Inter-Con in 1984 before becoming CEO in 1986.
“I am delighted to have someone of Rick’s talent and experience, who has served this board so well, now guide it forward,” McKenna said in a statement.
Hernandez is also a director with Chevron Corporation, Wells Fargo & Company and Nordstrom Inc., where last week he finished 10 years as the company’s chairman. He is also a member of the board of trustees at the University of Notre Dame and is a member of the Harvard College Visiting and Harvard University Resources committees and the John Randolph Haynes and Dora Haynes Foundation.
Hernandez has a bachelor’s degree in government and economics from Harvard and has a law degree from Harvard Law School.
He takes the chairmanship of a company that has righted its sales ship this year following three years of weakness, thanks to the introduction of all-day breakfast and value offerings this year. McDonald’s stock was up slightly today.
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