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McDonald's CEO Dies, Successor Named

Mon Apr 19, 2004 04:24 PM ET

By Deborah Cohen

 

CHICAGO (Reuters) - McDonald's Corp. (MCD.N: Quote, Profile, Research) Chairman and Chief Executive Jim Cantalupo, credited with recently turning around the iconic American fast-food company, died on Monday of an apparent 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, Florida. The death of a chief executive known for his affable personality and high energy shocked restaurant operators attending the meeting, which is held every two years.

 

"He was such a beloved character," said one McDonald's operator in attendance, who declined to be named. "People were actually crying."

 

Cantalupo came out of retirement in early 2003 to take the helm of the world's largest restaurant company after former CEO Jack Greenberg resigned under pressure.

 

Company representatives declined to comment on Cantalupo's health history. He was taken to a local hospital early in the morning and died there, McDonald's spokesman Walt Riker said.

 

Cantalupo's death comes as McDonald's is faced with defining its role in a growing obesity crisis, which has attracted some lawsuits blaming the company and the fast-food industry. Cantalupo helped develop the company's anti-obesity campaign, a recent push to promote healthier menu choices and exercise.

 

McDonald's stock pared some early losses after slumping more than 3 percent on concern over who would take the helm of an empire that spans 119 countries and some 30,000 hamburger restaurants, as well the Boston Market and Chipotle chains.

 

The company also named Andrew McKenna, 74, its presiding director, as nonexecutive chairman. McKenna, chairman and chief executive of printer Schwarz Paper Co., reached board retirement age at 73 but was asked to stay on during the company's turnaround. He joined the board in 1991.

 

Full Story:

 

http://www.reuters.com/financeNewsArticle.jhtml?type=businessNews&storyID=4869773

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Posted

maybe this is just a troll for grammar geeks, but actually, no its not ironic. It might be ironic if the CEO of McDonald's died while running a marathon. Or, better yet, if he became a vegan for health reasons and then choked to death on a garden burger. But a heart attack is pretty much what you'd expect.

Posted
maybe this is just a troll for grammar geeks, but actually, no its not ironic. It might be ironic if the CEO of McDonald's died while running a marathon. Or, better yet, if he became a vegan for health reasons and then choked to death on a garden burger. But a heart attack is pretty much what you'd expect.

 

thumbs_up.gif It figgers!

 

alanismorrissette.jpg

Posted

Don't you know by now that carbohydrates are the root of all human ills? You can eat anything you want, and as long as you don't eat carbs, you'll be healthy! You don't even need exercise if you don't eat carbs! The Atkins Diet is the true Magic Bullet!

 

Fad diets are so suck.

Posted

maybe this is just a troll for grammar geeks, but actually, no its not ironic. It might be ironic if the CEO of McDonald's died while running a marathon. Or, better yet, if he became a vegan for health reasons and then choked to death on a garden burger. But a heart attack is pretty much what you'd expect.

 

"Cantalupo, 60, died while attending a McDonald's franchisee convention in Orlando, Florida."

 

"Cantalupo helped develop the company's anti-obesity campaign, a recent push to promote healthier menu choices and exercise"

 

Can you honestly say that you expected the dude to drop dead of a heart attack in front of McDonald's franchise owners? I think that meets the requirement of "incongruity between what is expected and what actually happens." There is such a thing as "subtle irony."

Posted

my bad - I missed the part about how he worked on the anti-obesity campaign. I'll admit that moves the needle on the irony-o-meter. I'm not so sure about croaking at the convention, though. But I suppose irony is somewhat in the eye of the beholder... unless the beholder is Alanis, who pretty much fucked up the entire concept.

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