Fenton Lovin’ It at Mcdonald’s
Mcdonald’s Corp. promoted Tim Fenton, who has worked for the restaurant chain since he was a teenager, to chief operating officer as the company battles increasing competition and higher ingredient costs.
Fenton, 54, currently president of Mcdonald’s Asia, Pacific, Middle East and Africa unit, will begin his new role on July 1, the company said Monday.
He began his career at age 16 in 1973 at a Mcdonald’s in Utica, N.Y., where he worked the deep fryer and the drive-thru window.
Mcdonald’s has been working to keep boosting sales and profit amid increasing competition from Wendy’s Co. and Yum! Brands Inc.’ s Taco Bell chain, which recently have been testing breakfast foods at some U.S. loca
tions. Burger King Holdings Inc. also began selling new menu items last year in a bid to lure Mcdonald’s diners.
Fenton will oversee the company’s more than 33,500 restaurants worldwide.
The COO post at Mcdonald’s is traditionally seen as a proving ground for candidates for the company’s top job. Don Thompson, Mcdonald’s previous COO, was tapped last month to take over as chief executive after Jim Skinner retires this year.