McDonald's CEO of two and half years, Don Thompson steps down from his position after his tumultuous years in the world's biggest hamburger chain. He will be replaced by the restaurant's Senior Executive Vice President and chief brand officer, Steve Easterbrook.
McDonald's has been facing the biggest challenge in history with its slumping sales despite the brand's effort to stay on the top. McDonald's CEO Don Thompson is resigning effective March 1. The announcement was made on Wednesday.
Don Thompson was the first African-American to lead the company since it was founded in 1955. He became CEO in July 2012 and has served the chain for a period of 25 years. He first worked as the company's engineer in 1990.
According to The Guardians, during Thompson's reign as the company's CEO, the biggest hamburger chain in the world experienced 15 % slump on its yearly profits amounting to $4.7 billion.
"It's tough to say goodbye to the McFamily, but there is a time and season for everything. I am truly confident as I pass the reins over to Steve, that he will continue to move our business and brand forward," Thompson stated in the press conference.
Upcoming McDonald's CEO Steve Easterbrook served as president for northern European operation, overseeing 1,800 restaurants. He left the brand in 2011 to serve as chief executive of Pizza Express and later Wagamama. He came back in 2013 as McDonald's chief brand officer.
McDonald's is undeniably facing its greatest challenge while healthier options are being promoted extensively and customers now are becoming picky. There were also unending controversies on McDonald's strange ingredients.
McDonald's is also confronted with issues such as its efforts in promoting its products to the kids and reports of derisory payment to its employees in its U.S. branches. In an effort to please its customers, McDonald's even released a campaign inviting people to ask questions on its products.
Thompson's departure as McDonald's head was a surprise to many. Richard Adams, a consultant for McDonald's franchisees in San Diego said that he was surprised with Thompson's departure especially that there were many plans were laid to get back its declining business.
