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This is an archive article published on April 20, 2004

McDonald146;s CEO dies

McDonald8217;s Corp. Chairman and Chief Executive Jim Cantalupo died of an apparent heart attack on Monday in Florida, shocking the company...

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McDonald8217;s Corp. Chairman and Chief Executive Jim Cantalupo died of an apparent heart attack on Monday in Florida, shocking the company and investors, just as his turn-around strategy was beginning to pay off.

The company quickly named Charlie Bell, the 43-year-old Chief Operating Officer who had been seen as heir apparent, to replace Cantalupo as CEO.

Cantalupo, 60, who died while attending a franchisee convention in Orlando, Florida, came out of retirement in early 2003 to take the helm of the world8217;s largest restaurant company after former CEO Jack Greenberg resigned under pressure.

McDonald8217;s stock, which had been the second-best performer in the Dow Jones industrial average in 2004, recovered somewhat after slumping more than 3 percent on concern over who would take the helm of the hamburger empire.

8212;Reuters

 

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