The chief executive officer of McDonald’s has left this company after he violated the policy of the company by getting into a consensual relationship with one of the employees of the company as per the company’s statement on Sunday.
The company which is a fast food giant has said that the CEO and former president Steve Easterbrook had showed bad judgement. The company has forbidden managers from indulging in romantic relationships with indirect and direct reports
In an email which the former CEO had sent to the employees he has admitted to having a relationship with a fellow employee and has called it a mistake.
He said in the email that with the company’s values he was in agreement with the board that it was time that he moved on
On Friday, the board of directors had voted for the departure of Easterbrook after a thorough review had been conducted. The details of the separation package of Easterbrook are going to be released with the federal filings on Monday as per the spokesperson of the company.
Steve Easterbrook had been the CEO of the company since the year 2015.
Chris Kempczinski who was recently serving as the president of McDonald’s USA has been appointed by the board of directors as their new CEO and president.
McDonald’s had two weeks ago reported a drop of 2% in its net income for the third quarter due to its heavy spending on the remodelling of stores and expansion of delivery services. The share price of the company has dropped by 7.5% ever since though for the year it is still up by 9.2%. The transition in the leadership is not related to the financial performance or the operations of the company as per their news release.