McDonald's Corp. said it won't replace the chief operating
officer position after the retirement of Tim Fenton later this
year, a move that mirrors a growing trend among U.S.
corporations.
The fast-food chain on Thursday said Mr. Fenton, 56 years old,
will retire from that position effective Oct. 1. Rather than
replace the COO role, McDonald's intends to broaden
responsibilities for two senior leaders.
Chief Financial Officer Pete Bensen will assume oversight for
world-wide supply chain, development and franchising functions,
while Global Chief Brand Officer Steve Easterbrook will now oversee
the restaurant solutions group, corporate strategy and a few other
departments.
Mr. Fenton said his retirement was due to severe asthma, adding
he "cannot continue to meet the global travel demands of this
position and will focus on improving my health closer to home."
The shuffle at McDonald's mirrors a trend seen at other
companies, as chief executives take greater control of day-to-day
operations or delegate control to other executives, squeezing out
chief operating officers and presidents.
McDonald's has struggled to improve sales lately, as Chief
Executive and President Don Thompson recently said the company has
lost relevance with some customers and needs to improve its menu
offerings.
Write to John Kell at john.kell@wsj.com
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