1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
The Science of Hitting
The Science of Hitting
Articles (412) 

McDonald's CEO Jim Skinner Announces Retirement and Resignation from Board of Directors

March 22, 2012 | About:

McDonald's Corporation (MCD) came out with a press release (here) after the close that will likely be unwelcome to shareholders - Vice Chairman and Chief Executive Officer Jim Skinner has informed the board of directors of his decision to retire after 41 years with the company, effective June 30, 2012. Since Skinner became CEO in 2004, the stock has increased at a rate of more than 20% per annum and surpassed a market cap of $100 billion for the first time.

McDonald's Board of Directors announced that they had elected current President and Chief Operating Officer Don Thompson (full bio here), 48, to succeed as CEO, effective the day after Mr. Skinner steps down. Andy McKenna, chairman of McDonald's Board of Directors, had this to say about Don: “As we look to the future, the Board has every confidence that Don's strategic leadership and global business insight makes him the ideal CEO. His track record of performance as President and COO of McDonald's Corporation and President of McDonald's USA speak to his qualifications to further drive the company's momentum."

Don became president and COO in early 2010 and has directed the global strategy and operations of more than 33,000 McDonald’s restaurants around the globe over the past 24 months; before that, he was president of McDonald's USA for four years, where he was responsible for the strategic direction of the nearly 14,000 restaurants in the U.S.

Surprisingly (at least to me), Skinner has also has resigned from McDonald's Board of Directors; here’s a link to a CNBC special entitled “Big Mac: Inside the McDonald’s Empire,” which discusses the company’s history, its success under Mr. Skinner, and the plan for international growth looking forward.

  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

» Take a Free Trial of Premium Membership

About the author:

The Science of Hitting
I'm a value investor with a long term focus.

I think Charlie Munger has the right idea: "Patience followed by pretty aggressive conduct."

I run a fairly concentrated portfolio, with a handful of positions accounting for the majority of the total. From the perspective of a businessman, I believe this is sufficient diversification.

Rating: 3.7/5 (10 votes)


Please leave your comment:

GuruFocus Mobile App

User Generated Screeners

kingjamesmdnew Fast Growers - James's Pet
rael2222VB ok 60.84
9gebbbLFG Quant Valuation I
rod1z52-Week-Low With Gurus
DBrizanreturn on tang assets15
James LiCurrently Profitable Sloans
yowie89Pinoy Cheap List
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)