McDonald's Don Thompson Taking Over as CEO as Skinner Retires |
| San Francisco Chronicle - Mar 22, 2012 |
McDonald's Corp. said Chief Operating Officer Don Thompson will take over as chief executive officer, becoming the first black CEO of the world's largest restaurant chain, after Jim Skinner retires this year.
Thompson, 48, who became president and operating chief in January 2010, will assume his new role July 1, Oak Brook, Illinois-based McDonald's said in a statement yesterday. Skinner, 67, who ran McDonald's for more than seven years, also will retire from the board, where he serves as vice chairman.
"It will be a seamless transition," Peter Saleh, an analyst at Telsey Advisory Group in New York, said in an interview last night. "They're not going to skip a beat going from Jim to Don," he said.
Thompson takes over as the company works to keep boosting sales and profit amid increasing competition and higher commodity prices. Wendy's Co. and Yum! Brands Inc.'s Taco Bell chain recently have been testing breakfast foods at some U.S. locations. Burger King Holdings Inc. also began selling soft- serve ice cream and more upscale menu items last year in a bid to lure McDonald's diners.
Read Full Article from San Francisco Chronicle
- Posted: 2012-03-22 10:12:33
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