Former McDonald's Exec Raul Alvarez Joins the Dunkin' Brands Board of Directors
Dunkin' Brands Group Inc. has named a former McDonald's Corp. executive to its board of directors.
The parent company of Dunkin' Donuts and Baskin-Robbins said Wednesday that Raul Alvarez is joining its board. Alvarez, 56, previously served as McDonald's president and chief operating officer. He has also held positions at Wendy's International Inc. and Burger King Corp.
Alvarez is currently on the boards of Lowe's Cos. and Eli Lilly and Co.
Dunkin' Brands had more than 10,000 Dunkin' Donuts and more than 6,700 Baskin-Robbins restaurants at the end of last year. Earlier this month the Canton, Mass. company said that it plans to nearly double the number of Baskin-Robbins ice cream stores it has in the U.K. with 80 new locations over the next three years.
In April Dunkin' Brands reported that it moved to a first-quarter profit as customers spent more at both chains and the company spent less on debt interest payments.
Dunkin' Brands' stock rose 47 cents, or 1.5 percent, to $32.77 in midday trading. The shares are near their 52-week high of $33.81 set last week.