NEW YORK (AP) - McDonald's Corp. said Monday it will establish a
European headquarters in Geneva, Switzerland, by the end of 2009.
Spokeswoman Cath O'Grady said the fast-food chain now has European offices in London, Paris, Munich and Siena, Italy that house executives. None, however, are considered headquarters offices.
The executives now located throughout Europe will be moved to the Geneva building which will serve as the company's new headquarters for the region, O'Grady said.
O'Grady said the company does not yet have an opening date for
the headquarters and declined to provide specifics about the location or cost of the building.
She added that establishing a headquarters will allow the company to manage international intellectual property rights issues directly from Europe rather than the U.S. where the company has a headquarters in Oak Brook, Ill.
McDonald's shares rose 29 cents to $57.34 in afternoon trading.