OAK BROOK, Ill. (AP) -- McDonald's says CEO Jim Skinner will retire later this year.
Don Thompson, the company's current president, will take over the helm of the world's biggest hamburger chain on July 1.
Skinner, 67, has been with McDonald's Corp. for 41 years. He was named CEO in 2004.
Thompson, 48, is a 22-year veteran of Oak Brook-based McDonald's. The company says that in his current job, Thompson is responsible for global strategy and operations for the more than 33,000 McDonald's restaurants in 119 countries.