McDonald's CEO to Retire <b></b>

Dec 16, 2002

Oak Brook, Illinois--McDonald's Corp. Chairman and CEO Jack M. Greenberg, who has been under fire for the fast-food chain's weak performance, has announced his retirement after 21 years with the company. Jim Cantalupo, former vice chairman and president, becomes McDonald's fifth chief executive when Greenberg departs December 31.

McDonald's, a powerhouse through the '80s, has stumbled in recent years, as the U.S. fast-food market became saturated, consumer tastes began to shift and fears of mad-cow disease decimated European sales. Greenberg, who earlier this year said he would stay on until 2005, had devised several plans to improve results--most notably the costly Made for You cooking system that was supposed to produce hotter, fresher meals but also created longer lines. -Crain's Chicago Business

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Most Popular

See all

Growing a Business

Clinton Sparks Podcast: The Struggles and Fame of Rapper Lil Yachty's Entrepreneurship Journey in Hip-Hop

This podcast is a fun, entertaining and informative show that will teach you how to succeed and achieve your goals with practical advice and actionable steps given through compelling stories and conversations with Clinton and his guests.

By Clinton Sparks

Leadership

You're Reading Body Language All Wrong — And It's Putting Your Next Business Deal On The Line. Decode Non-Verbal Cues By Following These 5 Steps.

In the intricate dance of business meeting negotiations, the nuances of communication become the fulcrum on which decisions balance. For the astute entrepreneur, understanding body language is not just a skill; it's an imperative. However, relying solely on isolated gestures can be deceptive. To truly harness the power of non-verbal cues, one must grasp the concept of "clusters."

By Lauren Hirsch Williams

Business News

The Music Giant Behind Beyoncé, Harry Styles and Adele Bars ChatGPT From Using Its Songs

The world's largest music publisher sent letters to more than 700 companies demanding information about how its artists' songs were used.

By Sherin Shibu

Business News

OpenAI's New Deal Sees the ChatGPT Trailblazer Following a Competitor's Lead

OpenAI is treading on Google's AI-training territory following its new deal with Reddit.

By Sherin Shibu

Productivity

Want to Be More Productive? Here's How Google Executives Structure Their Schedules

These five tactics from inside Google will help you focus and protect your time.

By Jason Feifer

Side Hustle

These Coworkers-Turned-Friends Started a Side Hustle on Amazon — Now It's a 'Full Hustle' Earning Over $20 Million a Year: 'Jump in With Both Feet'

Achal Patel and Russell Gong met at a large consulting firm and "bonded over a shared vision to create a mission-led company."

By Amanda Breen