What Is Chris Kempczinski’s Net Worth?
Chris Kempczinski is an American business executive who has a net worth of $40 million. He worked within several food and beverage-related industries. He currently serves as the CEO of McDonald’s Corporation.
He was born on September 26, 1968, in Cincinnati, Ohio.
His mother was a primary school teacher, while his dad was a Professor of Surgery.
Kempczinski obtained his high school diploma from Indian Hill High School and then went on to get a bachelor’s degree from Duke University.
After he first started his career, he attended Harvard Business School and graduated with an MBA.
Procter & Gamble
One of his first jobs was at Procter & Gamble, where he worked in brand management. He was there for four years, working in their soap sector division.
After he left, this was when he went to Harvard Business School and earned his MBA.
Then, he went to work at PepsiCo in 2000.
In 2006, Kempczinski became VP of Marketing.
He then moved on to work with Kraft, where he was the executive vice president of growth initiatives and the president of Kraft International.
McDonald’s
In 2015, Kempczinski moved on to work at McDonald’s Corporation.
His initial role was to oversee innovation, business development, and global strategy.
It took him only a year and a half to earn promotion to President of McDonald’s USA.
“Change also brings opportunities for discussion, introspection, and, ultimately, renewal,” he said.
This role put him in charge of 14,000 restaurants that were currently in operation in the USA.
One of his biggest contributions during this time was the introduction of mobile ordering and self-service points.
These allowed customers to order their food and have it brought to their tables.
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This was crucial towards the modernization of the chain, and the corporation saw many improvements at this time.
He was promoted again in November 2019, becoming the president and CEO of the corporation. This is the role that he currently holds today.
His promotion to CEO has lead to him having to face some challenges that are currently facing the company.
McDonald’s has been losing ground to other popular fast-food restaurants in recent years, such as Burger King and Taco Bell.
To change this, he has been looking to franchisees to help improve the restaurants they manage.
He has had conflict with them in the past, as there have been disagreements about what the McDonald’s Corporation wants for their restaurants, and what the franchisees feel will be successful.
In his previous role at the company, Kempczinski had to work with franchisees to find solutions.
When he became CEO, he actually made a video for franchisees.
In it, he reiterated his commitment to their restaurants and showed them that he wanted to continue working closely with them.
This also showed shareholders that he was committed to the future of the company. He also used the video to talk about his plans for the future.
”The single most important thing I have to do as CEO is to ensure that our brand continues to be relevant,” Kempczinski told McKinsey in March 2021.
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Wife
Chris Kempczinski is married to his wife, Heather Kempczinski.
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Heather was born Heather Mccaslin in 1969 and currently works as a pediatrician.
She studied at the University of North Carolina at Chapel Hill School of Medicine to get her M.D., after having studied for a bachelor’s degree in biology from Duke University.
She completed her residency at Massachusetts General Hospital.
Children
It is known that Kempczinski has two children with his wife Heather, but to maintain privacy, their ages and names haven’t been revealed to the public.
What we do know is that the family lives in a four-bedroom, six-bath home in Lake Forest, which they bought in 2009 for $1.5 million.
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Net Worth & Salary
So, how much is Chris Kempczinski worth? Kempczinski earned most of his wealth from his years in top positions in some of the leading companies in the US. As he held those top positions, they were surely very well paid. Therefore, Chris Kempczinski has an estimated net worth of $40 million.
Christopher Kempczinski’s annual base salary is $1.3 million with McDonald’s Corporation (he took a pay cut to $963,500 in 2020). It’s an amount that is slightly higher than the average wage for CEOs in the United States.
Some of his net worth also comes from the shares he held in McDonald’s Corporation.
These were held in the earlier days of his career in the company, and he actually sold them in May 2019. These stocks were sold for a total of $4.4 million, and the amount was required to be declared before his promotion to CEO.
This was an unusual move, as normally CEOs are required to have six times their annual salary in stock in the company they manage. This is designed to show that they have faith in the company they’re leading.
In November 2019, Chris bought $500,000 of shares ($193.81 a piece) in the restaurant company.
In 2020, Kempczinski made over $10.8 million in compensation.
In 2021, Chris made $20 million — $4.4 million in incentives, $356,706 in compensation, $14 million in stocks, and $1.3 million in salary.
Kempczinski has a house valued at $1.5 million in Chicago.
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I am Bulgarea Candin Stefan, and I founded FamousPeopleToday.com in 2018. I’m using my bachelor’s degree in economics and 9 years of experience in blogging to guide millions of people through the incredibly complex world of celebrity net worths.