McDonald's says CEO Easterbrook leaves the company

This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEFA20I8_L.jpg
© Reuters. FILE PHOTO: McDonald's CEO Steve Easterbrook speaks during an interview on CNBC at the New York Stock Exchange© Reuters. FILE PHOTO: McDonald’s CEO Steve Easterbrook speaks during an interview on CNBC at the New York Stock Exchange

(Reuters) – McDonald’s Corp (N:) dismissed Chief Executive Steve Easterbrook over a recent consensual relationship with an employee, which the board determined violated company policy, the fast-food giant said on Sunday.

The company’s board determined that Easterbrook had also “demonstrated poor judgment involving a recent consensual relationship with an employee,” McDonald’s said in a news release. Easterbrook relinquished his seat on the company’s board as well.

McDonald’s, which did not immediately respond to messages seeking comment on Sunday, did not provide further details on the situation.

Chris Kempczinski, most recently president of McDonald’s USA, was named the company’s new CEO, effective immediately. He also joined the McDonald’s board.

The company named Joe Erlinger, most recently president of international operated markets, as president of McDonald’s USA, succeeding Kempczinski.

Easterbrook described his personal conduct as “a mistake” that violated company policy, in an email to employees on Sunday released by the company. “Given the values of the company, I agree with the board that it is time for me to move on,” Easterbrook said in the email.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment