Black McDonald’s CEO quits after sales decline

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Don Thompson, CEO, McDonalds

McDonald’s CEO Don Thompson is stepping down from his position at the company after sales continue to decline.
The company said Thompson would step down as CEO and board member on March 1, and be replaced by Steve Easterbrook, its chief brand officer who is responsible for fixing the fast-food operator’s marketing and menu. A longtime McDonald’s veteran, Easterbrook earlier in his career held big jobs including president of McDonald’s Europe.
The move comes a week after McDonald’s, the world’s largest fast food company, reported fourth-quarter and full-year results that made 2014 the first with a decline in same-store sales in a dozen years. It was also the fifth straight quarter of declining same-store sales in the United States, where it has lost many customers because of an overly complicated menu and changing tastes, and a defections to fast casual chains like Chipotle Mexican Grill.
 

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