McDonald's (MCD) Announces Retirement of COO for Health-Related Reasons
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McDonald's (NYSE: MCD) announced today that Ralph Alvarez has decided to retire as President and Chief Operating Officer of the company for health-related reasons.
"After more than 30 years in the restaurant industry, the past 15 with 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' retirement is effective December 31, 2009. He has also decided to resign as a member of the McDonald's Board of Directors.
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