The president and CEO of McDonald’s will retire effective March 1, the company’s board announced Wednesday, after 25 years with the world’s largest restaurant chain.
Don Thompson will be replaced by Senior Executive Vice President and Chief Brand Officer Steve Easterbrook, who was elected by the board to take his place. McDonald’s still sits atop the fast food throne, with more than 36,000 locations worldwide and some 69 million customers in more than 100 countries per day.
“It’s tough to say goodbye to the McFamily, but there is a time and season for everything,” Thompson said in a statement. “I am truly confident as I pass the reins over to Steve, that he will continue to move our business and brand forward.”
More Must-Reads From TIME
- Alison Roman Won't Sugarcoat It
- If Donald Trump Is Indicted, Here's What Would Happen Next in the Process
- All of the Other Major Investigations Into Donald Trump
- Who Should Be on the 2023 TIME100? Vote Now
- The Case for Betting on Succession's Tom Wambsgans
- Postmaster General Louis DeJoy's Surprising Second Act
- In This Texas County, There's No Such Thing as Moving on From COVID-19
- Why Trump's Call to Protest Is Flopping
- Column: Ozempic Exposed the Cracks in the Body Positivity Movement
