UPDATE: McDonald's CEO Jim Skinner to Retire; Board Elects Don Thompson as Successor

McDonald's Corporation MCD yesterday announced that Vice Chairman and Chief Executive Officer Jim Skinner has informed the Board of Directors of his decision to retire after 41 years with the Company, effective June 30, 2012. McDonald's Board of Directors elected current President and Chief Operating Officer Don Thompson to succeed Skinner as CEO, effective July 1, 2012.