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McDonald's CEO Skinner to step down
NEW YORK, USA: McDonald's Chief Executive Officer Jim Skinner will retire in June, after 41 years at the US fast food giant, to be replaced by Chief Operating Officer Don Thompson, the company said.
Skinner, 67, has served at the helm of the company since November 2004 and was one of the architects of the "Plan to Win" strategy that has guided it since 2003, McDonald's said in a statement.
"Jim's stellar leadership has driven unprecedented momentum at McDonald's," said Andy McKenna, chairman of the company's board of directors, in a statement Wednesday.
"Total shareholder return was 21% during Jim's tenure as CEO, and market capitalization surpassed $100 billion for the first time in the company's history," he added.
The "Plan to Win" saw the company retool its global restaurants and adjust its menu to offer healthier options for an increasingly fitness-conscious public.
Thompson, 48, is a 22-year veteran at McDonald's and became president and COO in January 2010. He has since directed global strategy and operations for the company's more than 33,000 restaurants in 119 countries.
The fast food behemoth serves 68 million worldwide customers a day.
Source: AFP
Source: I-Net Bridge
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