Summary by Moomoo AI
McDonald's Corporation has appointed Lauren B. Elting as its new principal accounting officer, effective October 1, 2024. Elting, who will join as Vice President on July 30, 2024, will succeed Catherine A. Hoovel, who is set to retire on October 1, 2024. Prior to this appointment, Elting served as Chief Accounting Officer at Federal Signal Corporation from 2022 to 2024.The compensation package for Elting includes an annual base salary of $375,000, a 50% target annual cash incentive, and starting 2025, an annual long-term incentive award. Additionally, she will receive a one-time restricted stock unit award valued at $800,000 vesting over three years and a one-time cash bonus of $250,000 subject to one-year employment.In other corporate developments, during the Annual Shareholders' Meeting on May 22, 2024, the company approved amendments to its Certificate of Incorporation to limit certain officers' liability. The Board has also approved By-laws amendments reflecting the decision to recombine the Chairman and CEO roles and appoint a Lead Independent Director.
