McDonald’s CEO Steve Easterbrook fired for consensual relationship with employee
The McDonald’s CEO has been kicked out of the company after admitting it was a “mistake” to start a relationship with a worker.
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The CEO of McDonald’s has left the company after violating company policy by engaging in a consensual relationship with an employee.
The fast-food giant fired the former president and CEO Steve Easterbrook for demonstrating “poor judgment”.
“Easterbrook … has separated from the company following the board’s determination that he violated company policy and demonstrated poor judgment involving a recent consensual relationship with an employee,” the company said in a statement.
McDonald’s forbids managers from having romantic relationships with direct or indirect reports.
In an email to employees, Mr Easterbrook acknowledged he had a relationship with an employee and said it was a mistake.
“Given the values of the company, I agree with the board that it is time for me to move on,” Mr Easterbrook said in the email.
McDonald’s board of directors voted on his departure on Friday after a review. His yearly salary was thought to be $23 million.
Details of Mr Easterbrook’s separation package will be released today in a federal filing, according to a company spokesperson. He had been CEO since 2015.
The board of directors named Chris Kempczinski, who recently served as president of McDonald’s USA, as its new president and CEO.
Mr Kempczinski joined McDonald’s in 2015. He was responsible for approximately 14,000 McDonald’s restaurants in the US.
He was instrumental in the development of McDonald’s strategic plan and oversaw the most comprehensive transformation of the US business in McDonald’s history.
In its most recent earnings report, on October 22, McDonald’s said profits dipped 1.8 per cent in the third quarter from the year-ago period to $1.6 billion. Revenues edged up 1.1 per cent to $5.4 billion.
McDonald’s has invested heavily in home-delivery and mobile-pay initiatives in recent years and, in 2019, unveiled several acquisitions to boost its drive-through operation.
Originally published as McDonald’s CEO Steve Easterbrook fired for consensual relationship with employee