"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," he said in a release.
Alvarez was named to McDonald's board last year, and he has been increasingly visible at the company investor presentations. "Most people thought Ralph was being groomed to take over for Skinner," said Stifel Nicolaus analyst Steve West. "He's been an essential part of the team, and he as been there throughout (McDonald's) turnaround," said Oppenheimer & Co. analyst Matthew DiFrisco.
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