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Don Thompson Named McDonald's Worldwide President, COO

Don Thompson, 46, who has served as president of McDonald's U.S. operations since 2006 and who recently oversaw the company's largest menu introduction in nearly 30 years -- specialty coffees -- has been promoted to the company's No. 2 post worldwide. David Sterrett reports that he is now the frontrunner to succeed CEO James Skinner, 65.

"McDonald's needed to do something because it was too big of a job for Mr. Skinner to handle alone," says Janna Sampson, a chief investment officer with OakBrook Investments. The former No. 2, Ralph Alvarez, resigned last month because of recurrent knee problems. He also told The New York Times that his expectation that Skinner intended to stay on for a while played a part in his decision. Thompson, who began his career at McDonald's in 1990, is thought to be more patient about stepping up.

Jan Fields, who had served as COO under Thompson, will become president of the U.S. division. Jim Johannesen, the head of McDonald's Central division, will take her former position.

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