041187 McDonald's Ailing Boss Steps Down

The 44-year-old - one of Australia's corporate success stories - stepped down yesterday after just seven months in the top job.

A statement by McDonald's, company chairman Andrew McKenna said Mr Bell had decided on the move to devote all of his time and energy to his battle against cancer.

"Charlie is a remarkable leader and well loved by the McDonald's family, and we fully understand and respect his decision," Mr McKenna said.

Mr Bell, who began his McDonald's career flipping burgers as a 15-year-old Sydney schoolboy, was the youngest and first non-American to step into the company's chief executive role in April this year. In 1980 he became Australia's youngest store manager at the age of 19. As chief executive 25 years' later, Mr Bell was responsible for 30,000 restaurants in 118 countries and 400,000 employees.

His rise to chief executive took place in tragic circumstances, with Mr Bell's appointment announced just hours after his predecessor and close friend Jim Cantalupo, 60, died of a heart attack while attending a company convention.

Mr Bell discovered he had colon cancer in May, shortly after being named chief, and in recent weeks his health has been the subject of intense speculation.

That speculation followed his failure to attend the McDonald's-sponsored Athens Olympics, and withdrawal from several events, including a McDonald's Australia conference.

He also cancelled an appearance at this month's American Australian Association's annual benefit dinner in New York, and pulled out of an earnings conference call with Wall Street restaurant analysts.

McDonald's has been tight-lipped about the precise status of the popular Australian's chemotherapy program and surgeries, but his resignation marks a departure from the upbeat message he has been delivering to employees and investors.

In his last communication with McDonald's franchisees, Mr Bell taped a voice mail earlier this week stating he was in his office at the company's headquarters in Chicago, looking over October sales figures.

"It is good news on all fronts," he said of the profits. And "on a personal note, I can't tell you how glad I am to be back in the office", he continued.

"Anyone going through cancer treatment has good days and bad days, and it is certainly a good day when I can be here communicating with you."

After his first surgery in May, he fronted a press conference at the McDonald's annual general meeting, claiming he was "feeling very, very good and recovering very nicely".

But in September he was back in hospital, undergoing further surgery to fix a complication in addition to his ongoing chemotherapy.

Mr Bell, who is married with one daughter, is an architect of the financial turnaround of McDonald's in the past two years.

Since becoming chief, the company's share price on the New York Stock Exchange has risen 10 per cent.

McDonalds immediately named vice-chairman Jim Skinner, 60, as its new chief executive.

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