Markets
MCD

McDonald's Terminates CEO Over Consensual Relationship With Employee

(RTTNews) - McDonald's Corp. (MCD) terminated its chief executive officer, Steve Easterbrook, for having a relationship with an employee.

The Board determined that Easterbrook violated company policy and demonstrated poor judgment involving a recent consensual relationship with an employee, the company said in a statement on Sunday.

The US fast food giant appointed Chris Kempczinski, formerly president of McDonald's USA, as its new president and chief executive, effective immediately.

Kempczinski joined McDonald's in 2015. He was responsible for about 14,000 restaurants in the US.

The company appointed Joe Erlinger, who was most recently President of International Operated Markets, as President of McDonald's USA, succeeding Kempczinski.

"This was a mistake. Given the values of the company, I agree with the board that it is time for me to move on," the British-born Easterbrook wrote in an email to employees.

Easterbrook, 52, was appointed chief executive of McDonald's Corp. in 2015.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MCD

Latest Markets Videos

    RTTNews

    Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

    Learn More