Since November 2019, Chris Kempczinski was CEO of McDonald’s Corporation (NYSE:MCD). Here’s a look at his net worth, work history, and what he sees as the fast food giant’s competitive advantages in the future.
Net worth of Chris Kempczinski: Kempczinski has worked with McDonald’s since 2015, serving as president of the American company before becoming CEO.
Kempczinski also roles held with companies like Kraft Heinz Co. (NASDAQ: KHC), Procter & Gamble Co. (NYSE:PG), PepsiCo, Inc. (NASDAQ: PEP) and Mondelez International Inc. (NASDAQ:MDLZ).
“I love being in consumer industries, having a tangible product that I can touch and feel,” Kempczinski said in a maintenance with David Rubenstein in his eponymous show on Bloomberg.
Kempczinski is paid $5.22 million a year as CEO of McDonald’s according to Wallmine. He has a net worth of $17.9 million.
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How McDonald’s succeeds: Kempczinski credits founder’s early days and success Ray Kroc for creating the roadmap that has made McDonald’s a fast food giant for the past 60 years.
“It starts with the brand. We have a brand that is one of the most valuable brands in the world,” Kempczinski said.
McDonald’s franchise model has allowed it to deploy capital and build stores faster than other restaurants. Kempczinski also highlighted the production system that provides a guaranteed QoE and consistent experience across each of the company’s 39,000+ locations.
One feature that attracts customers to McDonald’s is the Coca-Cola fountain in Coca-Cola Co (NYSE: KO) that customers claim different tastes at the restaurant. A question about Pepsi, a company Kempczinski worked for, still replacing the popular drink, received this answer: “The way to bring Pepsi into McDonald’s is to get customers to prefer Pepsi over Coke.”
And after: Among the highlights of what’s to come for McDonald’s is the launch of the McPlant, a plant-based burger being tested in the USA
Another area McDonald’s is focusing on is chicken products whose protein is expected to grow faster than beef globally.
Customers can order McDonald’s through the “4 Ds” of drive-thru, restaurant, delivery and digital. Kempczinski said drive-thru accounts for more than 70% of U.S. sales and has seen growth internationally during the COVID-19 pandemic.
Digital will be at the center of future growth with a digital app that continues to roll out to customers with a new loyalty program.
“Everything is moving to the app,” he said.
Kempczinski said McDonald’s had an exciting future ahead of it and offered the famous Ray Kroc quote from “If you’re not green and growing, you’re red and rotten.”
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