Creativity and distinction in the hotel business is essential to success. Hotel designers around the world have discovered the growing need for individuality in hotel spaces. Every day, hotel owners are ...
Cites “health-related” reason for sudden retirement
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Ralph Alvarez surprised many industry watchers when he announced yesterday that he will retire as McDonald's president and coo effective December 31. “Seven orthopedic surgeries and years of chronic pain culminating in two knee replacements in the last six months have made me realize it's time to move on,” the 55-year-old Alvarez said in a corporate statement. The industry veteran, who spent that last 15 years of his 30-year restaurant career at McDonald's, is also resigning his position on the board of directors.
According to a report in The Wall Street Journal, the decision was all the more surprising since Alvarez was “being groomed to succeed” McDonald's 65-year-old ceo Jim Skinner. Commenting on Alvarez's retirement, Skinner said the fast-food giant “has benefitted greatly from Ralph's leadership and commitment to operational excellence.” Alvarez's emphasis on improved operations—from more varied menus to café design—are being credited among the reasons for McDonald's solid performance during the downturn.
The move also sparked an organizational shake-up that will have members of the company's Area of the World executive leadership team reporting directly to Skinner. Team members are responsible for the operation of McDonald's 32,000 restaurants worldwide.
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