McDonald's CEO Out After “Consensual” Work Relationship
GoLocalProv Business Team
McDonald's CEO Out After “Consensual” Work Relationship
Steve Easterbrook was forced out after he engaged in a relationship with a colleague, the company announced Sunday.
Easterbrook, who joined the group in 1993 and has been CEO since March of 2015, “violated company policy and demonstrated poor judgment involving a recent consensual relationship with an employee,” the company said.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“The fast food giant has appointed Chris Kempczinski to the role of chief executive and president. He was previously president of McDonald’s US business. Mr. Easterbrook, who is British, wrote in an email to McDonald’s staff: '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,'" reported FT.
Just two weeks ago, McDonald's reported its third-quarter performance.
"Our third-quarter performance was strong, and broad-based momentum continued with our 17th consecutive quarter of global comparable sales growth," said Easterbrook. "Globally, our customers are rewarding our commitment of running better restaurants and executing our Velocity Growth Plan by visiting more often."
Third-quarter highlights:
Strong, global comparable sales of 5.9% demonstrated broad-based strength with the International Operated segment increase of 5.6%, the U.S. increase of 4.8%, and the International Developmental Licensed segment increase of 8.1%.
Consolidated revenues increased $61.2 million or 1% (3% in constant currencies) to $5.4 billion.
Systemwide sales increased $1.3 billion or 5% (7% in constant currencies) to $26.0 billion.*
This story was first published 11/3/19 4:44 PM