The chief executive officer of McDonald’s has been fired after the revelation that he’d engaged in a relationship with an unnamed employee.
The fast food giant said in a statement that former president and CEO Steve Easterbrook had showed poor judgment in violating the company policy that forbids managers from having romantic relationships with indirect and direct subordinates.
Mr. Easterbrook admitted that he had a romantic relationship with an employee in an email to staff and called it a ‘mistake.’
“Given the values of the company, I agree with the board that it is time for me to move on,” he wrote.
The recently divorced father has three children.
After conducting a review, the board of directors voted for Mr. Easterbrook’s departure.
It was in 1993 when Mr. Easterbrook joined the company and he has been chief executive since 2015.
The company’s shares nearly doubled in value under his leadership. His salary was tied to McDonald’s share price; it peaked at $21.8 million in 2017, including $9.1 million in incentive-based pay.
Mr. Easterbrook received $15.9 million in total compensation in 2018.
Following his departure, the board named Chris Kempczinski as its new president.
Thanking Mr. Easterbrook for his contributions, Mr. Kempczinski said: “Steve brought me into McDonald’s and he was a patient and helpful mentor.”
He told the Wall Street Journal that he will maintain his predecessor’s focus on technology. “There isn’t going to be some radical, strategic shift. The plan is working,” he said.
One internet user commented: “I wish you happiness Steve. You had a romantic affair with someone at work. I have too. He graciously admitted it was against policy. It happens. The new man in charge thanked Steve for being helpful, a leader and an amazing predecessor. Leave this man alone please. Thank you.”
Another wrote: “I do not see what he did wrong, if both people are attracted to each other, there is no sexual impropriety and the partner was not a child, what is the problem? A large percentage of married people would have been fired because they met at work.”
A third added: “This was purely a business decision, this guy put the company on the right track now we’ll find someone else to keep the status quo at a much reduced salary.”
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Replaced!