Don Thompson, CEO of McDonald’s, will resign after two and a half years as the company continues to struggle with a decline in its customer base in the United States.
He will be replaced in March by Britain’s Steve Easterbrook, the company’s current brand manager.
“It’s hard to say goodbye to the Mc family,” Thompson, a 25-year veteran, said in a press release.
McDonald’s recently reported disappointing results.
Fourth-quarter earnings were $ 1.1 billion, 21% less than the previous year. The company also posted its fifth consecutive decline in sales.
Declination in business
Basically, sales in the lucrative US market declined 4.1% as American consumers continue to avoid McDonald’s in favor of fast, informal restaurants like Chipotle and Shake Shack. Following the start of earnings last Friday, McDVOICE said its earnings will continue to be under pressure in the coming months to entice consumers with menu changes.
The company also faces a labor problem in the United States, where efforts to unite fast-food workers have resulted in a series of litigation.
Thompson received $ 9.5 million in 2013, the last year the data is available.
His successor Steve Easterbrook grew up in Watford, Great Britain and has already managed the Pizza Express and Wagamama chains.
He attended Watford Boys High School and studied science at Durham University before becoming an accountant at Price Waterhouse.
Easterbrook will only be the second non-US manager to head McDonald’s.
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