McDonald’s Arches No Longer Golden for CEO Thompson

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The Board of Directors of McDonald’s Corp., the world’s largest restaurant chain, announced on Wednesday that Don Thompson, the company’s president and chief executive officer, will retire March 1.

Thompson, who was named CEO in July 2012, also announced that he also is retiring from McDonald’s board of directors. Oakbrook, IL-based McDonald’s elected Steve Easterbrook president and CEO, to replace Thompson. Easterbrook is currently serving as the corporation’s chief brand officer.

“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,” Thompson said in a statement.

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