McDonald's chief operating officer to retire

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Associated Press

Posted on March 20, 2014 at 1:01 PM

Updated Thursday, Mar 20 at 1:01 PM

NEW YORK (AP) — McDonald's says its chief operating officer is retiring and that it won't refill the position.

The company says Tim Fenton, 56, will retire in October then act as a special adviser to CEO Don Thompson.

The Oak Brook, Ill.-based company says Fenton will not be replaced. Instead, it's expanding the responsibilities for Chief Financial Officer Pete Bensen and Global Chief Brand Officer Steve Easterbrook.

"It's widely known that I battle severe asthma," Fenton said in a statement explaining his retirement. "I simply cannot continue to meet the global travel demands of this position and will focus on improving my health closer to home."

Fenton joined McDonald's as a restaurant employee in 1973.

The move comes as McDonald's Corp. fights to boost sales after years of outperforming its rivals.

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