McDonald's CEO to retire in JulyMarch 22, 2012 - 13:37 AMT PanARMENIAN.Net - McDonald's Corp Chief Executive Jim Skinner, who took the top post at the world's biggest hamburger chain following the abrupt departures of two CEOs, is retiring after more than seven years as a stabilizing force at the helm. In what analysts expected to be a smooth transition, Chief Operating Officer Don Thompson, 48, will succeed Skinner, effective July 1, becoming one of the most prominent African-American CEOs in the United States. Skinner, 67, has led McDonald's since November 2004 and is widely credited with executing the turn-around of the ubiquitous fast-food chain, whose shares more than tripled while he was CEO. He also will resign from the board of McDonald's. The company did not give a reason for Skinner's departure, but analysts said the move, while not entirely a surprise, came earlier than expected, Reuters reported. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months. Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |