McDonald’s chain chief Skinner to stand aside

By Scott Reid
Published on 23/03/2012 00:00

McDonald’s boss Jim Skinner is stepping down after more than seven years at the helm of the world’s biggest hamburger chain.

In what analysts expect to be a smooth transition, chief operating officer Don Thompson, 48, will succeed Skinner from the start of July.

Skinner, 67, has led the US-based food giant since November 2004 and is widely credited with executing the turn-around of the business, whose shares more than tripled while he was in control.

Analysts said his departure, while not entirely a surprise, had come earlier than expected.

Larry Miller at RBC Capital Markets said: “My suspicion is that he thinks the company is in a really good spot… and that with Don, the company is in good hands.

“Jim’s not going to hang around. That’s his style,” Miller added.

Skinner began as a restaurant manager trainee in Illinois.