McDonald's names Mike Andreas its second US president in two years(Read article summary)
McDonald's Corp. announced Friday that Mike Andreas will replace Jeff Stratton as the restaurant's US president. Since Stratton came on board in 2012, McDonald’s has posted a series of disappointing earnings reports.
McDonald’s Corp. today announced that McDonald’s USA President Jeff Stratton will retire effective Oct. 15, 2014, and be replaced by Mike Andres.
The change comes not even two years after Stratton assumed the post in November 2012, displacing longtime executive Jan Fields. Since then, McDonald’s has posted a series of disappointing quarterly reports, including Q2 for the current fiscal year. The company said same-store sales for July were down 3.2%, the worst in years.
“When I tapped Jeff to assume the role of McDonald’s USA president nearly two years ago, I asked him to lay the foundation for future growth in the U.S. market,” said McDonald’s President-CEO Don Thompson. “No one has worked more tirelessly to do that for this brand than Jeff. We are deeply grateful for his years of leadership and service, and wish him and his family all of the best.”
Andres, who most recently served as chairman and CEO of the Logan’s Roadhouse chain, also will oversee the Canadian market in his new role at McDonald’s Corp.
Andres began his McDonald’s career as manager for his family-owned McDonald’s in Northern California. He spent 30 years with company, beginning in marketing and then operations and development before becoming regional VP and SVP. Andres was president and CEO of Boston Market from 2001 to 2007, while it was a McDonald’s subsidiary. From 2010 to 2012, Andres served as president of McDonald’s Central Division in the U.S.