Biz moves

McDonald's names Chan

McDonald's has appointed Kenneth Chan as its new chief executive officer for the China area in place of Jeffrey Schwartz, who is retiring.

Schwartz will continue in his present position till April 1, and Chan will take over the position thereafter. Chan has 12 years of working experience in McDonald's. Prior to this appointment, he was regional manager for Malaysia, Taiwan, and South Korea as well as managing director for McDonald's Singapore.