World’s biggest food chain McDonald’s dismissed CEO Steve Easterbrook after the BOD discovered that he violated the company’s policy against manager relationships by demonstrating “poor judgment” in a consensual relationship with an employee.
Chris Kempczinski, the most recent President, has been announced as the new CEO of the US giant, replacing Easterbrook, 52, with immediate effect, according to reports.
In an email, Easterbrook acknowledged and agreed to the board’s decision saying, “this was a mistake”. He added, “Given the values of the company, I agree with the board that it is time for me to move on.”
Easterbrook’s spokeswoman, Desiree Moore, expressed that he was “deeply grateful” for his term at McDonald’s and “acknowledges his error in judgment.”
A McDonald’s spokeswoman refused to disclose any more details about the relationship or to speak when the board found out about it.
Easterbrook became the CEO at McDonald’s USA in 2015 when the company was facing its biggest crisis keeping its customers. The chain announced a dip in US sales along with a 33% drop in global profits in the first quarter for that financial year as he pledged a plan to better address the current “consumer needs, expectations, and the competitive marketplace.”