A longtime McDonald's executive who resigned abruptly last week has been named the new president of Dunkin' Donuts in the U.S. and Canada.
David Hoffmann was the president of McDonald's high-growth segment, which includes countries like China and Russia. The Oak Brook-based company announced his resignation in a filing with the Securities and Exchange Commission on Wednesday.
McDonald's said that Hoffmann failed "to satisfy certain conditions upon his departure, including execution of a noncompete agreement." As a result, he will forfeit certain benefits, including all unvested cash and equity incentive awards, the company said in the filing.