Laura Banks
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McDonald's names Steve Easterbrook new CEO

McDonald's Corp. MCD, -0.88% said late Wednesday that Don Thompson, president and CEO, will retire March 1. The board elected Steve Easterbrook to replace Thompson. Shares of McDonald's rose 3.1% to $91.59 following the announcement. Easterbrook currently serves as chief brand officer. McDonald's also shifted Chief Financial Officer Pete Bensen to the newly created position of Chief Administrative Officer. Corporate Controller Kevin Ozan will serve as the new CFO, McDonald's said.