OAK BROOK Ill. McDonald's Corp. said president and chief operating officer Ralph Alvarez will retire at the end of the month for health-related reasons.
Alvarez, who has been with the Oak Brook, Ill.-based company for 15 years, has held several top executive posts at McDonald's, including president of the brand's Mexican, U.S. and North American divisions. It was widely believed he would follow Jim Skinner as chief executive at the company.
McDonald's global executive leadership team now will report directly to Skinner, the company said.
"After more than 30 years in the restaurant industry, the past 15 with this great brand McDonald's, I've decided to retire," Alvarez said. "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."
Alvarez also will retire from the company's board of directors.
"I know this was a difficult decision, but it was the right one for Ralph and his family," Skinner said. "On behalf of the entire McDonald's system, I want to commend Ralph for his many contributions to our business. McDonald's has benefited greatly from Ralph's leadership and commitment to operational excellence."
Alvarez, 55, had been deeply involved in guiding McDonald's toward realizing several of the chief goals of its Plan to Win strategy, which was launched in 2002. During McDonald's last investor conference, he emphasized enhanced service, remodeled and reimaged restaurants, and menu innovations as pillars of the ongoing strategy.
Speaking for McDonald's board of directors, chairman Andrew McKenna said: "Ralph has been a strong executive and member of our board. His industry experience and insights have served us well."
McDonald's has more than 32,000 quick-service restaurants in more than 100 countries, and its system is about 80-percent franchised.
Contact Mark Brandau at [email protected].
