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April 20, 2004 | From Reuters
McDonald's Corp. Chairman and Chief Executive Jim Cantalupo, credited with recently turning around the iconic American fast-food company, died Monday of what appeared to be a heart attack, and the company named a successor within hours. McDonald's appointed Australian Charlie Bell, the 43-year-old chief operating officer who had been seen as heir apparent, to replace Cantalupo as its first non-American CEO. Cantalupo, 60, died while attending a McDonald's franchisee convention in Orlando, Fla.
March 3, 2004 | From Associated Press
Say goodbye to those super-sized fries -- McDonald's is slimming down its menu. The hamburger giant has started phasing out its trademark Super Size fries and drinks in its 13,000-plus U.S. restaurants as part of an effort to simplify its menu and give customers choices that support a balanced lifestyle, a company spokesman said. McDonald's Corp. added entree salads last year and has been moving to provide more fruit, vegetable and yogurt options with its Happy Meals.
January 23, 2003 | From Associated Press
Saying the law is not intended to protect people from their own excesses, a federal judge threw out a class-action lawsuit Wednesday that blamed McDonald's food for obesity, diabetes and other health problems in children. U.S. District Judge Robert Sweet said the plaintiffs failed to show that the fast-food chain's products "involve a danger that is not within the common knowledge of consumers." The lawsuit was filed against McDonald's last summer and sought unspecified damages.
January 11, 2003 | From Reuters
A man who masterminded a multimillion-dollar scam involving McDonald's Corp. game prizes has been sentenced in a Florida court to 37 months in prison, a court official said. Jerome Jacobson, who pleaded guilty in April, was sentenced in the U.S. District Court in Jacksonville, Fla. Jacobson, 59, had admitted stealing tickets from games such as "Monopoly" and "Who Wants to Be a Millionaire." Jacobson was director of security for Los Angeles-based Simon Marketing Inc.
December 25, 2002 | From Dow Jones Newswire
McDonald's Corp. is tinkering with its primary product -- the hamburger -- in its effort to stimulate sales. Beef patties will get a reformulated seasoning mix and new sandwich buns will be rolled out next year, a memorandum sent to franchisees disclosed. The memo also indicated that, despite some misgivings among franchisees as well as on Wall Street, the chain's Dollar Menu will be maintained -- and will get a big slice of the company's 2003 advertising budget. McDonald's declined to comment.
December 6, 2002 | Reuters
McDonald's Corp. Chief Executive Jack Greenberg said Thursday that he would retire at year's end. The restaurant chain named Jim Cantalupo, former vice chairman and president of the firm, to succeed Greenberg, 60. The company eight months ago said Greenberg, once a Wall Street favorite whose star faded, had agreed to stay at his post for three more years.
October 23, 2002 | From Reuters
McDonald's Corp. on Tuesday posted lower earnings for the seventh time in eight quarters, but its stock rose on plans to cut new restaurant openings and increase spending on existing outlets. With the help of a 1-cent dividend increase, McDonald's stock moved up as much as 9% in its biggest one-day gain on the New York Stock Exchange in at least two years. McDonald's said that next year it would open about 600 hamburger restaurants worldwide, down from a high of about 2,000 in 1996.
September 6, 2002 | Bloomberg News
McDonald's Corp. and Diageo's Burger King Corp. hid that the oil used to cook their French fries may contain a chemical suspected of causing cancer, an environmental group alleged in a lawsuit. The nation's largest sellers of French fries are violating California's Proposition 65, which requires manufacturers to warn consumers of dangerous chemicals, the Council for Education and Research on Toxics said in a suit filed in Los Angeles.
June 18, 2002 | Bloomberg News
McDonald's Corp., the world's largest restaurant chain, said second-quarter profit will rise after six quarterly declines as European sales rose and the euro gained against the dollar. Profit will be 38 cents or 39 cents a share, compared with 34 cents a year earlier, McDonald's said. The average estimate of analysts surveyed by Thomson First Call was 37 cents.
March 27, 2002 | Reuters
McDonald's Corp.'s decision to extend the tenure of its chief executive for three more years is a signal that management continuity is more important to the company than concerns about its weak near-term outlook, analysts said. The extension of Jack Greenberg's position comes as the world's biggest chain restaurant operator faces growing impatience from Wall Street and investors to deliver improved results this year, after reporting five straight quarters of earnings declines.
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