McDonald’s has temporarily removed quarter pounders and fresh, slivered onions from the menu in approximately 20% of its U.S. stores due to a deadly E. coli outbreak. The Centers for Disease Control and Prevention (CDC) has reported 49 cases of illness across 10 states, with 10 hospitalizations and one confirmed death.

The outbreak has been primarily concentrated in western and Midwest states, including Colorado and Nebraska, where the most cases have been recorded. The CDC continues to investigate the source of the E. coli contamination, but preliminary interviews have linked several cases to McDonald’s quarter pounders.

The first confirmed outbreak case was reported on 27 September, and since then, a child has been hospitalized with hemolytic uremic syndrome (HUS), a severe condition that can lead to kidney failure. Unfortunately, one death has been reported, an older adult in Colorado.

McDonald’s removed the affected items from stores in states including Colorado, Kansas, Utah, Wyoming, Idaho, and more, as authorities investigate further. Other major food companies are also withdrawing onions as a precautionary measure, though McDonald’s has clarified that other menu items, including other burgers, remain unaffected.

The Walt Disney Company has made a significant announcement regarding its leadership structure, revealing that James Gorman will replace Mark Parker as the chairman of the board, effective January 2024. This transition comes as the entertainment giant prepares for a crucial period of succession planning, with plans to name a successor for long-time CEO Bob Iger by early 2026, a shift that reflects the company’s commitment to a thorough evaluation of potential candidates.

Gorman, who has been on Disney’s board for less than a year, was appointed the head of the succession planning committee back in August. His leadership of this committee will continue as he steps into the role of board chairman. Bob Iger, the current CEO, expressed confidence in Gorman’s capabilities, stating that the Disney board has greatly benefited from Gorman’s expertise and insight. Iger remarked on the fortunate timing of Gorman’s appointment, especially as the board navigates the complexities of the succession process.

In his statement, Iger also took the opportunity to convey his heartfelt appreciation for Mark Parker, who has served on Disney’s board for nine years. Iger noted that Parker’s contributions to the company and its shareholders have been invaluable, reflecting the strong leadership and vision that Parker provided during his tenure.

Parker’s departure from the board is driven by his desire to focus on other professional commitments, particularly those related to his role at Nike, where he serves as Executive Chairman. A source familiar with the situation indicated that Parker’s shift would allow him to devote more attention to Nike-related matters, especially following the recent transition of leadership within that company.

Originally, Disney had aimed to announce Iger’s successor by 2025; however, the board’s decision to extend the timeline to early 2026 will enable a more comprehensive assessment of both internal and external candidates. This extended timeline is intended to ensure that the board can conduct thorough due diligence on all potential successors, providing ample opportunity for discussion and consideration among board members.

Gorman’s extensive background in leadership and succession planning is noteworthy, particularly his recent experience at Morgan Stanley, where he oversaw the seamless transition of leadership with Ted Pick stepping in as CEO at the start of this year. His proven track record in handling complex succession processes positions him well for the challenges ahead at Disney.

HSBC’s newly appointed CEO, Georges Elhedery, has introduced a sweeping restructuring plan to separate its operations into eastern and western markets as part of efforts to navigate geopolitical tensions and reduce costs. Under this transformation, effective from 2025, HSBC will establish four key units, merging its commercial and institutional banking divisions and creating two distinct regional operations—one for Asia-Pacific and the Middle East, and another for the UK, Europe, and the Americas. The overhaul also includes the appointment of the bank’s first-ever female finance chief in its 159-year history, Ms. Kaur.

Elhedery emphasized that the restructuring aims to simplify operations, making the organization more dynamic and agile, while sharpening its focus on strategic priorities. He sees the division of international wealth and premier banking as a pathway to becoming the top choice for affluent clients globally. The bank also seeks to strengthen its foothold in regions like the Middle East, where significant wealth presents major growth opportunities. By aligning its businesses more clearly with competitive advantages and market leadership, HSBC hopes to maximize growth potential and better serve key regional markets.

The leadership shake-up is part of a broader plan to streamline the bank’s global operations, with Elhedery noting that the bank is looking to unleash its full potential through the changes. Ms. Kaur, who has been with HSBC for over a decade and currently serves as its Chief Risk and Compliance Officer, will now assume the role of Finance Chief.

Russ Mould, Investment Director at AJ Bell, remarked that HSBC’s new structure points to the bank’s intent to capture more market share in areas with clear competitive advantages, especially in wealth management. The reorganization is expected to foster a simpler, more effective operational model as HSBC strengthens its strategic vision for the future.

This comprehensive restructuring comes at a pivotal moment for HSBC, which is looking to position itself as a leader across both developed and emerging markets, while continuing to focus on areas of growth in the financial sector.