|Despite a year of medical trauma in the headquarters' executive suite, McDonald's sales are up.
MCDONALD'S CEO RETURNS TO HOSPITAL
Charlie Bell Battles Complications From Second Surgery
MCDONALD'S NEW CEO UNDERGOES CANCER SURGERY
Full Details of Charlie Bell's Condition Not Available
MCDONALD'S MOVES QUICKLY TO NAME NEW PRESIDENT-CEO
Annual Conference Becomes Extraordinary Day of Trauma and Transition
MCDONALD'S CEO DIES OF HEART ATTACK
Jim Cantalupo Was Preparing to Open Annual Franchisee Convention
It was the second time in less than a year the company has lost its top officer. Mr. Bell assumed the position after the unexpected heart-attack death of Jim Cantalupo in April. Within weeks of becoming the new corporate chief, Mr. Bell himself underwent surgery for cancer.
In a statement issued last night, the company's board of directors said it had been informed by the 44-year-old Mr. Bell that he would no longer be able to continue in his positon because of his cancer.
The statement said, "Charlie is a remarkable leader and well loved by the McDonald's family, and we fully understand and respect his decision."
New officers named
The board simultaneously announced that Vice Chairman Jim Skinner, 60, was named new CEO of the fast-food chain, headquartered in Oak Brook, Ill. Mike Roberts, who is the CEO of McDonald's USA, was named president and chief operating officer of the company's global business.
In late evening comments to the press some insiders indicated that the company has been making preparations for the transition for weeks.
They said that in July, Mr. Skinner assumed management of McDonald's operations throughout Latin America, Asia, the Middle East and Africa.
The executive transition is not expected to impact the company's stock value or overall performance. Despite a year of medical trauma in its top ranks, McDonald's sales have been up significantly, and industry observers judge the fast-food giant's U.S. and global marketing initiatives to be on track.