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Article: Greenberg stays at ailing McDonald's

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Chicago Sun-Times
Article date:
March 27, 2002
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McDonald's Corp., hit by flat sales and declining earnings, has dropped some of its financially troubled franchisees and cut 150 more jobs than previously announced, but it is sticking with its beleaguered CEO Jack Greenberg--at least for now.

Greenberg, 59, McDonald's Chairman and CEO, has presided over a series of layoffs, negative earnings reports, management shakeups, a revised cooking system and a newly implemented and controversial franchisee grading system.

McDonald's revealed in a one-paragraph item near the end of its 423-page 10-K report, filed with the Securities and Exchange Commission late Monday, that McDonald's board of directors asked Greenberg "to commit to continuing" as ...

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