McDonalds name replacement to late CEO

McDonalds said its board has named Charlie Bell president and CEO, to replace chairman Jim Cantalupo, who died suddenly this morning.

Bell was the company's president and chief operating officer.

"Bell has worked side by side with Jim during these past 16 months to revitalise McDonalds all over the world," the company said in a statement.

"He is ideally suited and prepared to continue Jim's remarkable focus and discipline on our business."

In the past year, Cantalupo had helped turn the company around with a focus on improving operations and menu offerings.

New items like entree-sized salads and all-white-meat chicken nuggets helped McDonalds post the highest sales gain in 30 years at US restaurants open more than a year in February.