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McDonald's Names Executive Easterbrook New CEO

Easterbrook is McDonald's Senior Executive Vice President and Chief Brand Officer

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    NEWSLETTERS

    McDonald's Names Executive Easterbrook New CEO
    AP
    (AP Photo/David Duprey)

    McDonald's Corp. has tapped Steve Easterbrook as its new president and CEO to succeed Don Thompson, who has helmed the burger chain about two and a half years.

    McDonald's is facing slumping sales in the U.S.

    Thompson will retire March 1 after nearly 25 years with the Oak Brook, Illinois-based company.

    Easterbrook is McDonald's Senior Executive Vice President and Chief Brand Officer.

    In after-hours trading, shares of the company jumped 2.5 percent to $91.05.

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