McDonald’s chain chief Skinner to stand aside
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.
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