Bensen named McDonald's CFO

OAK BROOK, Ill., Nov. 14 (UPI) -- Peter J. Bensen has been promoted from corporate controller to chief financial officer of McDonald's Corp., the U.S. fast-food giant announced Tuesday.

Bensen, 45, who will take over his new duties effective Jan. 1, will succeed Matthew Paull, who intends to retire, the Dow Jones News Service reported.

Bensen will succeed Matthew Paull, who has been credited for helping to revitalize the world's largest restaurant chain and had announced his intention to retire.

McDonald's Chief Executive Officer Jim Skinner said Bensen, who has been with the Illinois company for 11 years after starting his career with Ernst and Young, was given "a well-deserved promotion" following an extensive internal and external selection process.

"I am certain we have selected an outstanding executive to succeed Matt and lead our financial functions in the years ahead," Skinner said.