Fast food giant McDonald’s Corporation (NYSE:MCD) has appointed Jon Banner as Executive Vice President and Global Chief Impact Officer. Banner served in a similar capacity at beverage giant PepsiCo (PEP). He will report directly to McDonald’s CEO Chris Kempczinski.
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Banner Comes with Rich Experience
Banner has extensive experience in developing sustainable growth strategies. Prior to joining McDonald’s, Banner was responsible for PepsiCo’s Communications department, the PepsiCo Foundation, and also worked with the company’s Sustainability and Government Affairs departments. He co-created PepsiCo’s sustainability vision, called PepsiCo Positive.
Prior to PepsiCo, Banner worked at Disney (DIS), where he was an Executive Producer for popular news programs such as World News Tonight and This Week.
In the present role at McDonald’s, Banner will oversee several functions, including Sustainability and ESG (Environmental, Social and Governance), Government Relations and Public Policy, Communications and International Corporate Relations. He will also be responsible for Ronald McDonald House Charities.
Meanwhile, McDonald’s Board has seen some recent changes with the retirement of Sheila A. Penrose.
Is McDonald’s a Buy Now?
Top investors are confident about the company’s growth prospects and they are loading up on the company’s stock.
TipRanks’ Stock Investors tool shows that top investors currently have a Very Positive stance on MCD. Further, 4.3% of the top portfolios tracked by TipRanks, increased their exposure to MCD stock over the past 30 days.
Overall, the consensus among analysts for McDonald’s stock is a Strong Buy based on 20 Buys and three Holds. The average MCD price target of $283.55 implies an upside potential of 8.7% from current levels. Shares have gained 9.2% over the past year.
Final Thoughts
ESG is increasingly becoming a critical component for organizations and McDonald’s is looking to strengthen its position in the space. Jon Banner’s track record in the ESG space and his ESG strategy formulation capabilities can benefit McDonald’s.
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