McDonald’s New CEO Kempczinski Buys $500,000 of Company’s Stock

(Bloomberg) -- McDonald’s Corp.’s Chris Kempczinski, who didn’t own any common stock when he was promoted to chief executive officer, bought $500,000 of shares in the restaurant company on Wednesday.

Kempczinski purchased 2,580 shares in the Chicago-based firm for $193.81 apiece, according to a regulatory filing.

Kempczinski, who was elevated to the top job on Sunday following the resignation of Stephen Easterbrook, sold his entire holding of McDonald’s common shares earlier this year, Bloomberg reported Tuesday.

Read more: New McDonald’s CEO doesn’t own a single share of the company

To contact the reporter on this story: Anders Melin in New York at amelin3@bloomberg.net

To contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net, Steven Crabill

©2019 Bloomberg L.P.