Mc's CEO has Cancer

[Guest guest]

Hi folks:

" Mc's CEO steps down to battle cancer

Mc`s said on Monday night Charlie Bell would step down as chief

executive to devote his time to battling colorectal cancer, dealing

another blow to the world`s largest fast food company.

24/11/04 Mr Bell`s resignation comes just seven months after

Cantalupo, its former chairman and chief executive, died from a heart

attack.

Mc`s moved quickly to close the gap, appointing Jim Skinner,

currently vice-chairman, to the chief executive`s role.

But the fast food giant has now lost both of the two highly-regarded

executives who masterminded the changes over the past two years that

restarted sales growth and restored investor confidence.

McKenna, Mc`s chairman, said in a statement on Monday

night that Mr Bell had informed a board meeting of his decision to

step down immediately.

" Charlie is a remarkable leader and well loved by the Mc`s

family, and we fully understand and respect his decision, " Mr McKenna

said.

Mc`s was widely praised for the speed with which it named Mr

Bell, formerly chief operating officer, to the chief executive`s role

last April following Mr Cantalupo`s death, ensuring continuity at a

sensitive time.

Announcing the latest chief executive change on Monday, Mc`s

said Mr Skinner was an " outstanding leader who will continue the

strategic focus " established by Mr Cantalupo and Mr Bell.

He has wide experience in a 33-year career at Mc`s, most

recently overseeing operations in Asia, the Middle East and Africa,

and Latin America.

But investors may be unnerved by the departure of Mr Bell, a

charismatic, 44-year-old Australian who was Mc`s first non-

American chief executive and closely associated with the revamp of

the company.

As chief operating officer under Mr Cantalupo, he tightened up

operating standards in Mc`s restaurants, and relaunched its

marketing campaign under a single global slogan, " I`m Lovin` It " , for

the first time.

Other changes included the introduction of healthier menu items such

as main course salads that have helped produce more than 18 months of

rising US same-store sales, or sales from outlets open at least a

year.

Investors had initially hoped Mr Bell could make a speedy recovery

from his cancer, diagnosed only weeks after he became chief

executive. But the company said in August he was undergoing an

operation to correct a blockage caused by scar tissue resulting from

earlier surgery.

Concerns increased within and outside the company after Mr Bell

failed to attend a worldwide gathering of 3,500 managers in Australia

this month. He instead sent a voicemail message to the managers in

which he acknowledged that his voice was weak.

" I want you to know that my spirit is very strong, " he added.

A Mc`s spokesman said he could not give an update on Mr Bell`s

health. He added that it was too early to speculate on whether Mr

Bell could later return to a role at Mc`s if he made a full

recovery from his illness. "

Rodney.