Cincinnati.Com
NKY.COM  |  ENQUIRER  |  CIN WEEKLY  |  Classifieds  |  Cars  |  Homes  |  Jobs  |  Help
Currently:
47°F
Sunny
Weather | Traffic
The Enquirer
HOME
NEWS
ENTERTAINMENT
SPORTS
REDS
BENGALS
LOCAL GUIDE
MULTIMEDIA
ARCHIVES
SEARCH
 
 TODAY'S ENQUIRER 
 Front Page 
 Local News 
 Sports 
-- Business 
 Editorials 
 Tempo 
 Home Style 
 Travel 
 Health 
 Technology 
 Weather 
 Back Issues 
 Search 
 Subscribe 

 SPORTS 
 Bearcats 
 Bengals 
 High School 
 Reds 
 Xavier 

 VIEWPOINTS 
 Jim Borgman 
 Columnists 
 Readers' views 

 ENTERTAINMENT 
 Movies 
 Dining 
 Horoscopes 
 Lottery Results 
 Local Events 
 Video Games 

 CINCINNATI.COM 
 Giveaways 
 Maps/Directions 
 Send an E-Postcard 
 Coupons 
 Visitor's Guide 
 Web Directory 

 CLASSIFIEDS 
 Jobs 
 Cars 
 Homes 
 General 
 Place an ad 

 HELP 
 Feedback 
 Subscribe 
 Search 
 Newsroom Directory 



 
Tuesday, April 20, 2004

McDonald's moves fast to replace deceased CEO



By Dave Carpenter
The Associated Press

CHICAGO - McDonald's Corp. chairman and CEO Jim Cantalupo, who helped engineer a turnaround of the fast-food chain by focusing on better food and service during 16 months at the helm, died unexpectedly of a heart attack Monday. He was 60.

The company moved quickly to name Cantalupo's successors. Charlie Bell, McDonald's 43-year-old president and chief operating officer, was elected CEO by the board of directors and will keep the president's title; Andrew J. McKenna, 74, the board's presiding director, was named chairman.

McKenna said Cantalupo was stricken in Orlando, Fla., where McDonald's was holding its international owner and operator convention.

"Jim was a brilliant man who brought tremendous leadership, energy and passion to his job. He made an indelible mark on McDonald's system," McKenna said.

Cantalupo emerged from retirement to be named chairman and CEO in January 2003 after a major management shake-up. He had worked for McDonald's for 28 years.

Under Cantalupo, the company worked to revitalize its brand. It had reported its first-ever quarterly loss for the last three months of 2002.

The fast-food giant slowed its breakneck expansion pace, closed hundreds of restaurants and added new menu items, including an entree-sized salad and the McGriddle breakfast sandwich. Last week, the company kicked off an anti-obesity campaign by announcing the introduction of Adult Happy Meals, with salad, bottled water and a pedometer, as well as healthier options for children's Happy Meals.

The company also introduced a new global advertising campaign, adopting a slogan - "I'm lovin' it" - meant to appeal to younger and hipper consumers. Ads show people break dancing, diving into the ocean with a surfboard or speeding down a water slide, all to a pop music soundtrack.

"We don't want McDonald's to look and feel 50 years old to our customers," Cantalupo said last month in a speech to Wall Street analysts, noting that the company will celebrate its 50th anniversary next year. "We want McDonald's to be forever young."

Cantalupo assumed the reins after former CEO Jack Greenberg announced his retirement at the end of 2002 - just nine months after the company had asked him to stay on until 2005.

Many industry analysts had been urging Greenberg's ouster for a number of months and generally greeted Cantalupo's accession happily.

Bell was considered to be heir apparent when the company elevated him in December 2002 from head of European operations to be president and chief operating officer under Cantalupo. But Bell, then just 42, was expected to have several years of seasoning under the senior executive.

Company spokeswoman Anna Rozenich said she was not aware of Cantalupo having had a prior heart attack or health problems. Cantalupo had lost weight in recent years and appeared fit after having been overweight in the 1990s, according to franchisee consultant Dick Adams, a former McDonald's executive. Adams said international travel takes a toll on industry executives, resulting in numerous premature deaths.

Analysts called Cantalupo's death a harsh blow to McDonald's.




BUSINESS HEADLINES
Ford puts $200M in plant here
Cincy Financial investor wary
Hey Trump, You're Copying
City told to make Square friendly
First Ashley store opens
Pearle Vision parent weighs rival offer
McDonald's moves fast to replace deceased CEO
Microsoft settles Minnesota lawsuit
Overtime rules coming out today
Profits drop at Franklin S&L
TransCanada, Alaska reopen pipeline talks

TECHNOLOGY HEADLINES
Pilcher: Airports look to cash in on wi-fi
Expect to see DVD successors soon
Amnesty ends for freeload download
You can block error messages



 

Latest Headline News
Updated Every 30 Minutes
BUSINESS NEWS

U.S. Rises in Auto Reliability Ratings

Congolese Shun Own Currency for Dollars

Delta Air Lines Posts $52M Profit in 3Q

Prepared Holiday Meals Up in Popularity

Christmas Returns to Wal-Mart Marketing


Cincinnati.Com
Search our site by keyword:  
Search also: News | Jobs | Homes | Cars | Classifieds | Obits | Coupons | Events | Dining
Movies/DVDs | Video Games | Hotels | Golf | Visitor's Guide | Maps/Directions | Yellow Pages

  CINCINNATI.COM  |  NKY.COM  |  ENQUIRER  |  CIN WEEKLY  |  Classifieds  |  Cars  |  Homes  |  Jobs  |  Help


Search | Questions/help | News tips | Letters to the editors | Subscribe
Newspaper advertising | Web advertising | Place a classified | Circulation

Copyright 1995-2007. The Cincinnati Enquirer, a Gannett Co. Inc. newspaper.
Use of this site signifies agreement to terms of service updated 12/19/2002.