McDonald’s CEO, Steve Easterbrook, has been fired from the company. Per Yahoo Finance, the company cited “poor judgment involving a recent consensual relationship with an employee.”
Steve Easterbrook had been with the company since 1993 and was CEO since 2015. During his time with McDonald’s, he was credited with “sparking the evolution of its company culture.” CNBC also explains that Easterbrook oversaw a turnaround of the company. Since he took over as CEO, McDonald’s shares rose 96% to $193.94.
In an email to employees, Easterbrook wrote that the relationship “was a mistake.” He also says, “Given the values of the company, I agree with the board that it is time for me to move on. Beyond this, I hope you can respect my desire to maintain my privacy.”
Chris Kempczinski, the current president of McDonald’s USA, will take over as CEO.