OAK BROOK, Ill. — After 41 years of service, Jim Skinner, vice-chairman and CEO of McDonald’s Corporation, has announced his retirement from the company and the Board of Directors, effective June 30. He will be succeeded by Don Thompson, the chain’s current president and COO.
“Doing what’s right for our customers and our business has driven my passion as CEO of McDonald’s,” said Skinner, 67, who has been CEO since 2004. “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.”Skinner is well respected for his work at the chain. “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 per cent 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.
Thompson became president and COO of McDonald’s in 2010 and has led global strategy and operations for more than 33,000 of the company’s restaurants in 119 countries. “I’m honoured 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.