Steve Easterbrook has stepped down as chief executive officer (CEO) and president of McDonald's after violating company policy.
According to McDonald's, the board has determined that CEO and president Steve Easterbrook violated company policy for his consensual relationship with an employee. In a statement, the company said Easterbrook "demonstrated poor judgment involving a recent consensual relationship with an employee."
Easterbrook expressed regret over the relationship and sent an email to McDonald's employees saying: "As for my departure, I engaged in a recent consensual relationship with an employee, which violated McDonald's policy."
"This was a mistake. 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," he added. He also said that his time at the helm of the company "have been the most fulfilling years of my working life."
Kempczinski becomes new CEO and president
Easterbrook, who became CEO in 2015, will be replaced in both positions by Chris Kempczinski, effective immediately. Kempczinski joined the company in 2015 and most recently served as president of McDonald's USA.
In a statement, Kempczinski said that he is "energized by this challenge" and looks forward "to guiding McDonald's continued success."
The company's board has expressed confidence in Kempczinski's ability to leaemployee dismissald. Enrique Hernandez Jr., chairman of McDonald's board of directors, said: "Chris takes the reins of this great company at a time of strong, sustained performance. The board has every confidence that he is the best leader to set the vision and drive the plans for the company's continued success."
Easterbrook has also expressed his approval in Kempczinski as his replacement, saying that he was "the ideal person to take on the role of CEO."
Kempczinski's previous position as president of McDonald's USA will be handled by Joe Erlinger, who was most recently president of international operated markets for McDonald's and has been with the company since 2002.
