April 30, 2001
CHICAGO (AdAge.com) -- McDonald's Corp.'s vice chairman and president, Jim Cantalupo, 57, will retire next spring, marking this the latest move in a quiet management shuffle at the world's largest fast-food chain.
Mr. Cantalupo joined McDonald's in 1974 as controller and worked his way up through a variety of posts, from district manager and zone manager to chairman and CEO of McDonald's International, before being named vice chairman. He has been a board member since 1987. The company plans to announce a successor on Tuesday. McDonald's last month announced that Michael Conley, chief financial officer, would retire.
To open first McCafe
Also on Tuesday, the company will open its first McCafe coffeehouse concept in the U.S. in Chicago. The unit, at 151 N. Wabash in the heart of the city's central business district, will be run by the franchisees who operate the famed "Rock 'n Roll" McDonald's.
While the first McCafe opened in Australia in 1993, McDonald's had dabbled with a similar concept, called Company Joe, that never took off. Whether the new unit will be able to compete with the likes of Starbucks Coffee and Caribou Cafe remains to be seen.
Copyright May 2001, Crain Communications Inc.