By George Stahl
McDonald's Corp., struggling amid declining sales and menu
changes, said Don Thompson will step down as president and chief
executive, effective March 1.
The fast-food chain will replace Mr. Thompson with Steve
Easterbrook, who was the company's chief brand officer. Mr.
Easterbrook also will join the board of directors, replacing Mr.
Thompson.
McDonald's is battling economic hurdles, changes in consumer
tastes and its own menu missteps, all of which led customer traffic
last year to fall 3.6% globally, including a 4.1% drop in the U.S.,
its most important market. The company recently reported a 21% drop
in fourth-quarter earnings.
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