McDonald’s CEO to Stay 3 More Years

McDonald’s Corp.’s decision to extend the tenure of its chief executive for three more years is a signal that management continuity is more important to the company than concerns about its weak near-term outlook, analysts said.

The extension of Jack Greenberg’s position comes as the world’s biggest chain restaurant operator faces growing impatience from Wall Street and investors to deliver improved results this year, after reporting five straight quarters of earnings declines.

McDonald’s shares rose 27 cents to close at $27.49 on the NYSE.