Fast-food chain McDonald’s (NYS: MCD) will say goodbye to Chief Executive Officer Jim Skinner on June 30 after nearly eight years at the helm. McDonald’s Chief Operating Officer Don Thompson, who will be stepping in to run the company, has big shoes to fill. Let’s find out how the world’s largest restaurant chain plans to continue the momentum without Skinner.
Skinner joined McDonald’s in 1971 as a restaurant manager in training. After years of climbing the company’s leadership ladder, Skinner became CEO in 2004 during a time when the company was expanding too quickly for its own good. He helped turn operations around with initiatives like the “Plan to Win” strategy, which delayed new store openings and gave more attention to existing McDonald’s locations. It’s been enormously successful thus far.