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McDonald's CEO Greenberg Made Chairman

May 21, 1999| Times Wire Services

McDonald's Corp. said President and Chief Executive Jack Greenberg will assume the additional title of chairman, effective immediately. Greenberg, 56, will succeed Michael Quinlan, who will remain on the board and will be chairman of the fast-food giant's executive committee. Greenberg will drop the title of president, but he said the company won't actively seek another executive to fill the position. Greenberg, who took over the chief executive position from Quinlan last August, joined McDonald's in 1982 as chief financial officer. He was head of McDonald's U.S. operations before he became chief executive. "I am excited about the future and thrilled for the opportunity to lead this great global company," Greenberg said in a prepared statement. Shares in Oak Brook, Ill.-based McDonald's closed down 38 cents at $40.06 on the NYSE.

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