THE APTLY-NAMED chief executive of McDonald’s, Donald Thompson, has resigned from his post after just two years at the helm – and shares in the fast food giant jumped three per cent on the New York Stock Exchange as a result. Ouch.
Thompson had been under severe pressure in recent times. The company’s stock has remained stagnant for the duration of the 25-year company veteran’s tenure, while McDonald’s Asian arm has experienced extended fallout in China and Japan after one of its suppliers was at the centre of a food safety scandal in July 2014.
The company saw profits fall by 15% in 2014 while global revenue fell 7% to $6.5 billion for the year.
Thompson will be replaced effective 1 March by current senior vice president Steve Easterbrook. He will also serve as company president as a result of a managerial shakeup that will also see current corporate controller Kevin Ozan taking over as Chief Financial Officer.
Despite its recent tribulations, McDonald’s Corporation remains the largest supplier of fast food internationally with 36,000 outlets in more than 100 countries.
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