McDonald's chairman to retire

Thursday, Dec. 5, 2002 | 11:11 a.m.

CHICAGO -- McDonald's Corp. is replacing its chairman and chief executive, Jack Greenberg, as it struggles to emerge from a deep two-year slump.

The fast food chain today said Greenberg will retire at the end of this year. McDonald's board elected the company's president and vice chairman, Jim Cantalupo, to take over the top two spots.