Oak Brook, Ill. -- McDonald’s Corp. announced Wednesday that vice chairman and CEO Jim Skinner will retire on June 30.
Skinner will be succeeded by current president and COO Dan Thompson, 48, effective July 1.
Skinner, 67, has worked for the chain for 41 years and has served as CEO since late 2004. “Doing what’s right for our customers and our business has driven my passion as CEO of McDonald’s,” he said in a statement. “I’m honored to have served and earned the trust of the board, our shareholders, franchisees, suppliers and the men and women of this great company.
Credited with a turnaround of the world’s largest hamburger chain, Skinner took the helm following the deaths of his two immediate predecessors, Charlie Bell and Jim Cantalupo. At that time, McDonald’s was just beginning to execute its Plan to Win, a program now described as the catalyst for reversing a negative sales trend.
Thompson became president and COO of McDonald’s in January 2010. Previously, he served as president of McDonald’s USA from 2006 until 2010.