As chief operating officer for the past two years, Thompson has gained a lot of international experience, Skinner said, and has traveled to every market that is "critical to the momentum" of the company. "He’s ready to go. He’s the real deal. Don has ketchup in his veins and the capacity of leading this great company forward."
Like other companies, McDonald's is again facing rising commodities costs, but Skinner said the company is "in a position of strength to adapt to these challenges." He thinks the second half of the year will be better than the first half where these costs are concerned. And while the European economy is "not good" and China's economy is slowing, the McDonald's business model "serves us very well in those markets and in how we relate to our customers."
Those customers, he added, will ensure McDonald's stock price will stay as high as the number of those served.
In 2011, shares of McDonald's were the best performing stock in the Dow Jones Industrial Average, with shares rising 31 percent. However, since hitting a 52-week high of $102.22 in January, the company's stock has been trending lower.
"When we perform well and get the sales, which leads to the earnings and the multiple…we expect the share price will continue to grow as we deliver on the fundamentals," he said, namely, "delivering a hot meal in a clean environment at a great price. It's no more complicated than that...the moment of truth."
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