McDonald's Corp.
(
MCD
) recently named Tim Fenton as the new Chief Operating Officer (
COO
) worldwide. The management churn comes in the wake of the
retirement of present Chief Executive Officer (
CEO
) Jim Skinner. Effective July 1, 2012, the current COO Thompson
will serve as the CEO of McDonald's and subsequently Fenton will
hold the office of COO.
Fenton, who serves as the President of McDonald's Asia, Pacific,
Middle East and Africa (APMEA), boasts of valuable experience of 39
years with McDonald's and played a key role in the development of
the company in the international markets. During his time at
McDonald's, he performed an array of pivotal roles.
Under his leadership, the company achieved new heights in terms
of overall performance, implementation of strategies and
profitability in APMEA. As President of McDonald's APMEA, Fenton is
responsible for more than 8,800 restaurants in 37 countries.
Earlier, Fenton was the president of the East Division for
McDonald's USA. He was in charge of more than 5,200 restaurants in
the eastern United States, comprising 21 states. Prior to that,
Fenton worked as senior vice president of Southeast Asia/Middle
East/Africa where he looked after 1,300 restaurants in 22
countries. Fenton also served as the vice president and managing
director of McDonald's Middle East Development Company as well as
several key roles in Asia, Poland, Central Europe, and the U.S.
Considering his vast know-how across various geographies and
solid track record, we expect him to justify his new role ahead. We
also expect the transition to be smooth as both the promotees have
long been associated with the company.
McDonald's currently retains a Zacks #3 Rank, which translates
into a short-term Hold rating. We are maintaining our long-term
Neutral recommendation on the stock.
As a point of reference, one of the company's peers,
Panera Bread Company
(
PNRA
) also announced a COO change. Prior to that, Panera management
appointed new CFO on an interim basis responding to the resignation
of its previous CFO.
MCDONALDS CORP (
MCD
): Free Stock Analysis Report
PANERA BREAD CO (
PNRA
): Free Stock Analysis Report
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