On Wednesday, McDonald’s (MCD) announced that its CEO Don Thompson will retire from his position. Here’s what the news means for mutual fund investors.
Inside the Management Change
Shares of McDonald’s rose on Thursday morning after reports that its President and CEO Don Thompson will be retiring on March 1. Thompson will be replaced by Senior Executive Vice President and Chief Brand Officer Steve Easterbrook. The company also announced that it will be getting a new CFO.
Difficult to Change MCD’s Current Image
Although the company reported that Don Thompson is retiring, there was previously a lot of chatter that a management shake-up would occur. So far, Wall Street’s reaction to this change has been optimistic, but it will be a difficult task to change MCD’s unhealthy, fast-food image overnight.
Mutual Funds to Watch
Investors interested in MCD may be interested in the funds listed below. These funds currently have the largest stakes in the company.