McDonald’s boss is out after it suffered one of its worst financial years in decades.
The world’s biggest fast-food chain has been fighting to hold on to customers amid changing tastes and an economic downturn in Europe.
Chief Executive Officer Don Thompson (51) will leave at the end of February after three years in the job.
He will be succeeded by the company’s Chief Brand Officer Steve Easterbrook.
McDonald’s warned last week that business would be weak in the first half of this year.
It is to cut its annual construction budget to the lowest in more than five years as it opens fewer restaurants in struggling markets.