Shakeup under the Golden Arches

Already troubled by falling profits, McDonald's is losing its No. 2 exec -- and the No. 3 may be next to go. Who'll mind the kitchen?

Over the past year, McDonald's Corp. (MCD ) has struggled with food scares in Europe that have turned consumers away from burgers, a strong dollar that keeps depressing foreign earnings, and stale toy promotions that no longer excite Happy Meal sales at home. Now, the world's biggest restaurant chain has another problem on its tray: Turmoil in the executive suite.

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