Steve Easterbrook
\n<\/figcaption><\/figure>\n<\/div>\nMcDonald\u2019s has fired its chief executive Steve Easterbrook after he had a relationship with an employee.<\/p>\n
The US fast food giant said the relationship was consensual, but Mr Easterbrook had \u201cviolated company policy\u201d and shown \u201cpoor judgement\u201d.<\/p>\n
In an email to staff, the British businessman acknowledged the relationship and said it was a mistake.<\/p>\n
\u201cGiven the values of the company, I agree with the board that it is time for me to move on,\u201d he said.<\/p>\n
Mr Easterbrook, 52, who is divorced, first worked for McDonald\u2019s in 1993 as a manager in London before working his way up the company.<\/p>\n
He left in 2011 to become boss of Pizza Express and then Asian food chain Wagamama, before returning to McDonald\u2019s in 2013, eventually becoming its head in the UK and northern Europe.<\/p>\n
He was appointed chief executive of McDonald\u2019s in 2015.<\/p>\n
Mr Easterbrook is widely credited with revitalising the firm\u2019s menus and restaurants, by remodelling stores and using better ingredients. The value of its shares more than doubled during his tenure in the US.<\/p>\n
Under his leadership, McDonald\u2019s also expanded its delivery and mobile payment options to emphasise convenience.<\/p>\n
The fast food giant\u2019s board voted on Watford-born Mr Easterbrook\u2019s departure on Friday after a review.<\/p>\n
He has also stepped down as McDonald\u2019s president and member of the board.<\/p>\n
The company\u2019s rules for managers prohibit them from become romantically involved with a subordinate.<\/p>\n
It will release details of Mr Easterbrook\u2019s severance package on Monday, details of which will be closely watched.<\/p>\n
The company has been criticised over the amount it pays shop staff, and Mr Easterbrook faced scrutiny for his $15.9m (\u00a312.3m) pay packet in 2018. It was 2,124 times the median employee salary of $7,473.<\/p>\n
He will be replaced by Chris Kempczinski, most recently president of McDonald\u2019s USA, with immediate effect.<\/p>\n
In a statement, Mr Kempczinski thanked Mr Easterbrook for his contributions, adding: \u201cSteve brought me into McDonald\u2019s and he was a patient and helpful mentor.\u201d<\/p>\n
Last year Intel boss Brian Krzanich stepped down for having a consensual relationship with an Intel employee, which was against company rules.<\/p>\n
He had been in the post since May 2013.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Steve Easterbrook McDonald\u2019s has fired its chief executive Steve Easterbrook after he had a relationship with an employee. The US fast food giant said the relationship was consensual, but Mr Easterbrook had \u201cviolated company policy\u201d and shown \u201cpoor judgement\u201d. In an email to staff, the British businessman acknowledged the relationship and said it was a […]<\/p>\n","protected":false},"author":1,"featured_media":737371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-737370","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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