McDonald’s President Ralph Alvarez Announces Retirement
McDonald’s Corp President-COO Ralph Alvarez will retire from the company on Dec. 31, 2009, for health-related reasons. “After more than 30 years in the restaurant industry, the past 15 with this great brand McDonald’s, I’ve decided to retire,” Alvarez, 55, said in a statement. “Seven orthopedic surgeries and years of chronic pain culminating in two total knee replacements in the past six months have made me realize it’s time to move on.”
No successor was immediately named. The company’s leadership team will report directly to Vice Chairman-CEO Jim Skinner, who said McDonald’s “has benefited greatly from Ralph’s leadership and commitment to operational excellence.” Alvarez joined McDonald’s in 1994 and has held several top executive posts. He was president of McDonald’s North America when he was named to succeed Mike Roberts as president-COO of the corporation in 2006.

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