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McDonald's elevates Don Thompson to CEO after Jim Skinner's retirement
in July
 (March
21, 2012) McDonald's Corporation today announced that Vice Chairman and
Chief Executive Officer Jim Skinner has informed the Board of Directors
of his decision to retire after 41 years with the Company, effective
June 30, 2012. McDonald's Board of Directors elected current President
and Chief Operating Officer Don Thompson to succeed Skinner as CEO,
effective July 1, 2012.
"Jim's stellar leadership has driven unprecedented momentum at
McDonald's. This success has benefitted our valued shareholders, as
McDonald's compound annual total shareholder return was 21 percent
during Jim's tenure as CEO, and market capitalization surpassed $100
billion for the first time in the company's history," said Andy McKenna,
chairman of McDonald's Board of Directors.
"Doing what's right for our customers and our business has driven my
passion as CEO of McDonald's," said Skinner. "I'm honored to have served
and earned the trust of the Board, our shareholders, franchisees,
suppliers and the men and women of this great company. Don Thompson is
well prepared for the CEO role, and under his leadership, our company
will continue to meet the needs of our 68 million customers around the
world every day. With Don at the helm, I am extremely confident in the
future of McDonald's."
"I'm honored by the Board's election," said Thompson. "Jim has been an
outstanding leader, mentor and friend. I'm humbled to take the baton as
CEO of McDonald's. 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. Our franchisees, suppliers and
employees are committed to ensuring that McDonald's is our customers'
favorite way and place to eat and drink."
Thompson, 48, became President and COO of McDonald's in January 2010. In
this capacity, he has directed global strategy and operations for more
than 33,000 McDonald's restaurants in 119 countries. Previously, he
served as President of McDonald's USA from 2006 until 2010. In that
role, he was responsible for the strategic direction and positive
business results of the nearly 14,000 restaurants in the U.S.
As a 22-year veteran of McDonald's, Thompson began as an electrical
engineer in 1990. Since then, he has held a variety of leadership
positions in the U.S. business and global system. In addition to serving
on McDonald's Board of Directors, Thompson is a member of the Board of
Directors of Exelon Corporation and Northwestern Memorial Hospital. He
also is a Trustee of his alma mater, Purdue University.
Skinner also has resigned from McDonald's Board of Directors, effective
June 30, 2012.
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