McDonald's CEO fired over 'consensual relationship' with employee
London : McDonald's has announced the firing of its CEO Steve Easterbrook after the company's board of directors found out that he "demonstrated poor judgment" in a consensual relationship with an employee.
On Friday, the directors did a review meeting and concluded that Easterbrook has violated the company guidelines against manager relationships with direct or indirect reports. Easterbrook has been replaced by Chris Kempczinski, previously the president of McDonald's USA.
Easterbrook, on the other hand, tagged his relationship with the employee as a 'mistake'. "Given the values of the company, I agree with the board that it is time for me to move on," he wrote.
Desiree Moore, a Chicago-based lawyer acting as a spokeswoman for Easterbrook, said he is "deeply grateful for his time at McDonald's."
"He acknowledges his error in judgment and supports the company's decision," Moore said, adding that Easterbrook will be not be commenting further.
No further details about the relationship have been revealed by the company that led to firing of a CEO.
Easterbrook, a former head of the company's U.K. operations, is divorced, according to The Sunday Times.
He was appointed the CEO of the company in 2015, when the company was dealing with the declining sales and less customer trust in the brand. McDonald's shares rose under Easterbrook's leadership, and the company retains its spot at the top of U.S. fast food sales, even as the industry faces challenges. Last year, Easterbrook - who is also on the board of Walmart - received $15.9 million in pay.