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You can find the current article at its original source at https://www.theguardian.com/business/2019/nov/03/mcdonalds-chief-executive-steve-easterbrook-relationship-employee
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| McDonald's chief executive out over relationship with employee | McDonald's chief executive out over relationship with employee |
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| Steve Easterbrook replaced by Chris Kempczinski over consensual relationship barred under company policy | Steve Easterbrook replaced by Chris Kempczinski over consensual relationship barred under company policy |
| McDonald’s chief executive officer has left the fast food giant after violating company policy by engaging in a consensual relationship with an employee, the corporation said on Sunday. | McDonald’s chief executive officer has left the fast food giant after violating company policy by engaging in a consensual relationship with an employee, the corporation said on Sunday. |
| McDonald’s said former president and chief executive Steve Easterbrook demonstrated poor judgment. The company forbids managers from having romantic relationships with direct or indirect employees. | McDonald’s said former president and chief executive Steve Easterbrook demonstrated poor judgment. The company forbids managers from having romantic relationships with direct or indirect employees. |
| In an email to employees, Easterbrook acknowledged the relationship and said it was a mistake. | In an email to employees, Easterbrook acknowledged the relationship and said it was a mistake. |
| “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. | “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. |
| McDonald’s directors voted on Easterbrook’s departure on Friday, after conducting a review. Details of Easterbrook’s separation package will be released on Monday in a federal filing, according to a company spokesperson. | McDonald’s directors voted on Easterbrook’s departure on Friday, after conducting a review. Details of Easterbrook’s separation package will be released on Monday in a federal filing, according to a company spokesperson. |
| Easterbrook had been chief executive since 2015. The board of directors named Chris Kempczinski, formerly president of McDonald’s USA, as its new president and chief executive. | Easterbrook had been chief executive since 2015. The board of directors named Chris Kempczinski, formerly president of McDonald’s USA, as its new president and chief executive. |
| Kempczinski joined McDonald’s in 2015. He was responsible for approximately 14,000 restaurants in the US, was instrumental in the development of the strategic plan and oversaw the most comprehensive transformation of the US business in McDonald’s history, said Enrique Hernandez, chairman of the board, in a statement. | Kempczinski joined McDonald’s in 2015. He was responsible for approximately 14,000 restaurants in the US, was instrumental in the development of the strategic plan and oversaw the most comprehensive transformation of the US business in McDonald’s history, said Enrique Hernandez, chairman of the board, in a statement. |
| McDonald’s is planning to file its third-quarter earnings report on Tuesday and the leadership transition is unrelated to the company’s operational or financial performance, the company said in a news release. | McDonald’s is planning to file its third-quarter earnings report on Tuesday and the leadership transition is unrelated to the company’s operational or financial performance, the company said in a news release. |
| Two weeks ago, McDonald’s reported a 2% drop in net income for the third quarter as it spent heavily on store re-modelling and expanded delivery service. The company’s share price has dropped 7.5% since, though it is still up 9.2% for the year. | |
| “Steve brought me into McDonald’s and he was a patient and helpful mentor,” Kempczinski said, thanking him for his contributions. | “Steve brought me into McDonald’s and he was a patient and helpful mentor,” Kempczinski said, thanking him for his contributions. |