22 Mar '12, 9am

McDonald's CEO to step down after eight years in charge of world's largest fast-food chain

NEW YORK - McDonald's chief executive officer Jim Skinner is stepping down after almost eight years atop the world's largest restaurant chain and will be succeeded by chief operating officer Don Thompson. The resignation takes effect June 30, McDonald's said yesterday in a statement. Mr Skinner will also retire from the board, where he serves as vice chairman. Mr Skinner, 67, started at McDonald's as a management trainee in 1971. He was named to the top job in November 2004, becoming the third CEO in seven months. Under Mr Skinner, McDonald's stock has more than tripled. Mr Thompson, 48, became president and operating chief in January 2010 and will assume his new role on July 1. For the previous four years, he served as the president of the company's United States operations. A 22-year veteran, he started as an electrical engineer. McDonald's fell US0.93 cents to US$96.72 ...

Full article: http://www.todayonline.com/Business/EDC120322-0000115/McD...

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