Since November 2019, Chris Kempczinski has served as the CEO of McDonald’s Corp MCD. Here is a look at his net worth, job history and what he sees as the competitive advantages for the fast-food giant going forward.
Chris Kempczinski Net Worth: Kempczinski has worked with McDonald’s since 2015, serving as the president of the U.S. business prior to becoming the CEO.
Kempczinski also has held roles with companies like Kraft Heinz Co KHC, Procter & Gamble Co PG, PepsiCo, Inc. PEP and Mondelez International Inc MDLZ.
“I love being in consumer industries, having a tangible product that I can touch and feel,” Kempczinski said in an interview with David Rubenstein on his eponymous show on Bloomberg.
Kempczinski is paid $5.22 million annually as the 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 the early days and success of founder Ray Kroc for creating the roadmap that has helped McDonald’s be a fast-food giant for the last 60 years.
“It starts with the brand. We have a brand that’s one of the most valuable brands in the world,” Kempczinski said.
McDonald’s franchise model allowed it to get capital deployed and build stores quicker than other restaurants. Kempczinski also highlighted the production system which offers guaranteed quality of the experience and consistent experience in each of the company’s 39,000 plus locations.
One item that drives customers to McDonald’s has been the fountain Coca-Cola from Coca-Cola Co KO that customers claim tastes different at the restaurant. A question about Pepsi, a company Kempczinski worked for, ever replacing the popular beverage was met with this response: “The way to get Pepsi into McDonald’s is to have customers prefer Pepsi to Coke.”
What’s Next: 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 U.S.
Another area McDonald’s is focusing on is chicken products with the protein expected to grow faster than beef globally.
Customers can order McDonald’s through the “4 Ds” of drive-thru, dine-in, delivery and digital. Kempczinski said drive-thru represents more than 70% of sales in the U.S. and saw growth internationally during the COVID-19 pandemic.
Digital will be the focus for future growth with a digital app continuing to roll out to customers with a new loyalty program.
“Everything is moving to the app,” he said.
Kempczinski said McDonald’s has an exciting future ahead and offered up the famous Ray Kroc quote of “If you’re not green and growing, you’re red and rotten.”
Photo: McDonald's
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