Walmart Nominates McDonald's CEO to Board; Instagram Founder Out

Walmart Inc. has nominated McDonald’s Corp. Chief Executive Officer Steve Easterbrook to its board in a bid to bring on an adviser with experience abroad.

Easterbrook, a 50-year-old British native, will replace Instagram founder Kevin Systrom, who is departing after four years to prioritize work and other outside commitments, according to a regulatory filing Friday. James Cash, Walmart’s lead independent director, is also retiring from the board after a 12-year tenure. Existing director Thomas Horton, the former head of American Airlines Group Inc., will assume Cash’s role.