BEIJING - MCDONALD'S Corp on Monday named Kenneth Chan as its new chief executive officer in China, replacing Jeffrey Schwartz, the company said in a statement.

Mr Chan, a Singaporean, has been with McDonald's for 12 years, most recently acting as regional manager in Malaysia, Taiwan and Korea, and managing director of its restaurants in Singapore.

Mr Schwartz, a 40-year McDonald's veteran, will retire from the company, the statement said. -- RETUERS