By Robert Barba

McDonald's Corp. announced changes to its international leadership as Doug Goare, its president of international lead markets and chief restaurant officer, plans to retire at the end of the year.

The 66-year-old Mr. Goare is set to retire on Dec. 31 after 40 years at the burger chain, the company said Monday. He was named chief restaurant officer in October 2016.

"Doug has been an important leader whose career at McDonald's has spanned multiple continents and his expertise has contributed greatly to the success of our business today," McDonald's Chief Executive Steve Easterbrook said in prepared remarks.

McDonald's said that with Mr. Goare's retirement and moves in recent years to have fewer corporate-owned locations, it would change its organizational structure globally on Jan. 1.

Joe Erlinger will become president of international operated markets, a segment that includes the oversight of countries where the company operates restaurants, including Australia, Canada, France, Germany, Italy, Netherlands, Russia, Spain and the U.K.

Ian Borden will oversee the remaining markets as president of international developmental licensed markets.

Chris Kempczinski will continue on as president of McDonald's USA, the company said.

Shares of McDonald's were down 1.2% on Monday to $163.38. The stock is down roughly 5% so far this year.

(END) Dow Jones Newswires

September 24, 2018 12:04 ET (16:04 GMT)

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