McDonald's Corp named its first-ever chief brand officer on Tuesday to oversee marketing, menu innovation and consumer insights. The world's biggest fast-food chain said Steve Easterbrook, currently president and chief executive of its UK division and president of Europe's northern division, would become chief brand officer, effective September 1.
Easterbrook, a 16-year McDonald's veteran, has served as CEO in the UK since 2006. As chief brand officer, he will also provide leadership on corporate social responsibility.
Jill McDonald, currently chief marketing officer for Northern Europe, will take over Easterbrook's role as CEO for the UK and president of the northern Europe division. McDonald's shares slipped 53 cents, or 0.7 percent, to $72.81 in early trade on the New York Stock Exchange.