OAK BROOK, ILL. — The board of directors for McDonald’s Corp. has elected Don Thompson, currently the company’s president and chief operating officer, to take over as chief executive officer for the retiring Jim Skinner, effective July 1.
Mr. Thompson has worked at McDonald’s for 22 years, starting as an electrical engineer in 1990. He was president of McDonald’s USA from 2006 to 2010 and was named president and c.o.o. of McDonald’s in January of 2010.
“I’m humbled to take the baton as c.e.o. of McDonald’s,” Mr. Thompson said when his selection was announced March 21. “Our management team is strong and will remain focused on the Plan to Win and on our three global priorities: optimizing the menu, modernizing the customer experience and broadening our accessibility to even more customers.”
Mr. Skinner became c.e.o. of McDonald’s in November 2004 and was one of the architects of “Plan to Win,” the company’s strategic framework that has involved modern, reimaged restaurants, increased menu variety and global initiatives promoting balanced, active lifestyles. His retirement after 41 years with McDonald’s becomes effective June 30. He also will resign from the company’s board of directors on that date.
“Jim’s stellar leadership has driven unprecedented momentum at McDonald’s,” said Andy McKenna, chairman of the board of directors. “This success has benefitted our valued shareholders as McDonald’s compound annual total shareholder return was 21% during Jim’s tenure as c.e.o., and market capitalization surpassed $100 billion for the first time in the company’s history.”
|Sign up for our free newsletters
From breaking news to R&D insights, we’ll send you the top stories affecting the industry.