This archive report was first published on 4 November 2019.
On November 1, 2019, the board of McDonald's unanimously voted to oust Steve Easterbrook, the company's CEO and president, due to his involvement in a romantic relationship with a subordinate.
Easterbrook, who had been the CEO since 2015, had started working at McDonald's in 1993 and rose through the ranks to become the executive officer.
He acknowledged the relationship and described it as a mistake, stating that he would step down as CEO.
According to the company's board, Easterbrook demonstrated poor judgment by infringing on a company policy that prohibits managers from having romantic relationships with direct or indirect subordinates.
Despite his tenure, during which the company's shares doubled in value and he revitalized the firm's menus and restaurants, Easterbrook's actions led to his departure.
He will be succeeded by Chris Kempczinski, the current president of McDonald's USA.
"Given the values of the company, I agree with the board that it is time for me to move on," Easterbrook said in an email to employees.
