Richard “Rick” Lenny is retiring from the McDonald’s board of directors, effective Oct. 31. He joined the board in 2005 and has served as chair of the compensation committee since 2019.
In a statement, McDonald’s CEO Chris Kempczinski said, “Rick is a civic-minded leader with a keen understanding of the challenges facing people and businesses today, and his counsel has been instrumental in helping position the company and our system for long-term growth.”
In a statement, McDonald’s Chair Enrique Hernandez Jr. said, Lenny’s business acumen and extensive experience leading major consumer brands enabled the chain to advance “countless strategic objectives.”
“He has cultivated a lasting culture of decorum and camaraderie within our board,” Hernandez said. “As chairman of the compensation committee, Rick has helped oversee several important initiatives, including the evolution of the company’s executive compensation program to more fully encompass our business and social impact.”
In addition to serving as chair of the compensation committee, Lenny is also a founding member of McDonald’s sustainability and corporate responsibility committee.
Lenny’s retirement comes shortly after the retirement of two other long-serving board members for the chain. In March, Robert Eckert and John Rogers Jr. announced their retirement from the McDonald’s board after each serving 20 years. At the time, McDonald’s said their retirements are “consistent with the board’s commitment to ongoing refreshment that maintains an appropriate balance of continuity and institutional knowledge with fresh perspectives among directors.”
Last year, McDonald’s board elected four new independent directors – Tony Capuano, Jennifer Taubert, Amy Weaver, and Kareem Daniel – and announced another retirement from Sheila Penrose. – Source: NRN.