OAK BROOK, Ill. (AP) — McDonald's Corp. said Monday that Tim Fenton will take over as chief operating officer of the world's largest restaurant chain this summer.
Fenton, 54, is head of McDonald's business in the Asia, Pacific, Middle East and Africa region and a 39-year employee. He'll move to the new position July 1.
The appointment fills a vacancy that will be created on the top management team when CEO Jim Skinner retires and McDonald's current chief operating officer, Donald Thompson, takes over as president and CEO.
Fenton began his career with McDonald's in 1973 as a crew member at a restaurant in Utica, N.Y., and worked his way up. The company credits him for much of its recent growth in Asia.
McDonald's, based in Oak Brook, Ill., has more than 33,500 restaurants around the world.
McDonald's shares fell 30 cents to $96.67 in afternoon trading.