McDonald's CEO Jim Skinner to retire

McDonald's Corp said its chief executive Jim Skinner is retiring after more than seven years as the head of the fast-food giant. Skinner has been widely credited with driving new growth at the ubiquitous ...

(Reuters) - McDonald's Corp said its chief executive Jim Skinner is retiring after more than seven years as the head of the fast-food giant.

McDonald's Corp said its chief executive Jim Skinner is retiring after more than seven years as the head of the fast-food giant.

Brian Polino submits:After what seemed to be a decade of defeat for McDonald’s (MCD), Jim Skinner took over as Chief Executive Officer in November 2004 and implemented the new Plan to Win strategy that made the “Golden Arches” golden once again. As part of this strategy, McDonald’s began to focus on quality, rather than overextension through uncontrollable growth.

By Valuentum: Last week, McDonald's (MCD) CEO Jim Skinner announced that he will be retiring from the company on June 30, 2012, after more than four decades on the job. His replacement will be current chief operating officer and President Don Thompson.

McDonald's CEO Jim Skinner said he would retire, allowing President and Chief Operating Officer Don Thompson to take the helm of the fast-food company in July.

McDonald's CEO Jim Skinner said he would retire, allowing President and Chief Operating Officer Don Thompson to take the helm of the fast-food company in July.