Chief Executive magazine today announced Jim Skinner, CEO, McDonald’s Corporation, has been named “2009 CEO of the Year.” Skinner’s award was a unanimous decision by the selection panel, chaired by Anne Mulcahy, CEO, Xerox Corporation, Chief Executive magazine’s “2008 CEO of the Year.”
Chief Executive magazine’s “CEO of the Year Award” is a prestigious honor presented to an outstanding corporate leader, nominated and selected by a group of peers for their exemplary vision and execution. The Award was inaugurated in 1986 and has been given out every year since then.
Skinner joins an impressive group of past winners, including Anne Mulcahy, Bob Ulrich, CEO of Target, and A.G. Lafley, CEO of Procter & Gamble. Skinner will be presented with the CEO of the Year award at a dinner at the New York Stock Exchange on July 30, 2009.
“Skinner successfully transformed an iconic brand by shifting strategies to being better versus bigger and introducing a range of quality enhancements from introducing new, healthier menu options to the innovative redesign of restaurants,” said J.P. Donlon, Editor-in-Chief of Chief Executive magazine. “He has been respectful of McDonald’s legacy while engineering an inspirational strategic leadership that re-invented the industry. He’s a remarkable leader in all facets, and we are happy to name him the 24th CEO of the Year.”
Skinner and his executive team have delivered exceptional results, since his appointment in 2004, McDonald’s worldwide restaurant sales have increased from $50.1 billion to $70.1 billion in 2008, up 41.1 percent. Last year the company far outperformed its competitors and was one of only two DJIA stocks that ended 2008 with a gain.
Skinner started as crew at McDonald’s at age 17. He later became a manager trainee in 1971 and was named CEO in November 2004. e was an integral part of the management team prior to his taking over the lead post, and worked with past CEOs Jim Cantalupo and Charlie Bell to create McDonald’s “Plan to Win” strategy, which called for jettisoning non-core businesses and concentrating on Brand McDonald’s.
Under his leadership, rather than making new openings its business priority, the company focused intensely on attracting more customers to its existing restaurants. In addition, the company expanded its menu offerings by adding more fruits, vegetables and chicken onto its popular menu and significantly improving customer service.
“At McDonald’s, leadership is driven by putting the right people in the right places,” said Skinner. “Our goal is always to provide a better experience for our customers and this award is a testament to our collective success in achieving this goal.”
Skinner was awarded the CEO of the Year by a panel comprised of peer CEOs, including:
- Ann Mulcahy, CEO, Xerox
- Jim Turley, CEO, Ernst & Young
- Bill Nuti, CEO, NCR
- Fred Hassan, CEO, Schering-Plough
- Jeffery Sonnenfeld, CEO, CEO Leadership Institute, Yale University
- Steve Odland, CEO, Office Depot
- Tom Quinlan, CEO, RR Donnelley
- Bill Hickey, CEO, Sealed Air
- Ed Ludwig, CEO, Becton Dickinson
Past Five CEO of the Year Award Winners:
- 2008 – Anne Mulcahy, Xerox
- 2007 – Bob Ulrich, Target
- 2006 – A.G.Lafley, Procter & Gamble
- 2005 – George David, United Technologies
- 2004 – Fred Smith , FedEx