McDonalds’ head man steps down


FORTUNE: CEO Don Thompson will be replaced on March 1 after the restaurant continued to struggle under his leadership.

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FORTUNE: CEO Don Thompson will be replaced on March 1 after the restaurant continued to struggle under his leadership.

The move comes a week after McDonald’s, the world’s biggest restaurant company, reported fourth-quarter and full-year results that made 2014 the first with a decline in same-store sales in a dozen years. It was also the fifth straight quarter of declining same-store sales in the United States, where it has lost many customers because of an overly complicated menu and changing tastes, and a defections to fast casual chains like Chipotle Mexican Grill.

McDonald’s is trying to quickly turn things around, aiming to simplify its menu and by unveiling a new marketing message centered around the word “love.” But Thompson, who became CEO in 2012, himself acknowledged last week that turning the company around would take time and said that he expected the volatility in McDonald’s results to continue in 2015. While Thompson inherited many problems when he took the helm, he has yet to change the company’s trajectory.

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