Troubled McDonald’s Makes Changes at the Top

29 Jan 2015 --- After a disastrous period of falling sales and an image crisis, McDonald’s President & CEO Don Thompson is to stand down. He will be replaced by current chief brand officer Steve Easterbrook.

Last week McDonald’s announced a 21% drop in earnings in its 2014 Q4 results. It has also experienced a decline in footfall in the US and around the world, attributed to a change in the way that consumers eat their fast food.

Thompson has worked hard to change the fast food giant’s fortunes in recent years, with more healthy options, a less-complicated menu and a reassurance that the quality of its food is good. But it seems that a whole generation has been brought up to shun McDonald’s, which will be a hard image to turn around. It is facing stiff competition in the US from casual food restaurants like Chipotle.

Thompson has been with the company for 25 years. 

Andrew McKenna, non-executive Chairman said: “On behalf of the Board, I sincerely thank Don for his valuable contributions and outstanding service throughout his career at McDonald’s 

“Steve [Easterbrook] is a strong and experienced executive who successfully led our UK and European business units and the Board is confident that he can lead the company to improved financial and operational performance.”

McDonald’s shares jumped 3.4% following the news.