McDonald's CEO steps down after 25 years
The Board of Directors of McDonald's Corporation announced last week that Don Thompson will retire as President and Chief Executive Officer and as a member of the Board of Directors, effective March 1.
After nearly 25 years of service to the company, Thompson will be replaced by Board elected Steve Easterbrook, the Senior Executive Vice President and Chief Brand Officer of the chain.
"Steve is a strong and experienced executive who successfully led our UK and European business units and the Board is confident that he can effectively lead the Company to improved financial and operational performance," said Andrew McKenna, non-executive Chairman of the Board of Directors.
Adding, "on behalf of the Board I sincerely thank Don for his valuable contributions and outstanding service throughout his career at McDonald's. We will be indebted for his passionate leadership, business acumen, dedication and system knowledge."
In announcing his retirement, Thompson said. "It's tough to say goodbye to the McFamily, but there is a time and season for everything. I am truly confident as I pass the reins over to Steve, that he will continue to move our business and brand forward."
"I am grateful to have had the opportunity to work with Don and congratulate him on his remarkable career at McDonald's," said Easterbrook. "I am honored to lead this great brand, and am committed to working with our franchisees, suppliers and employees to drive forward our strategic business priorities to better serve our customers."
