(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.