On Sunday, McDonald's announced that CEO Steve Easterbrook has been fired for engaging in a consensual relationship with an employee, violating company policy. According to CNBC, his dismissal was voted on by the board on Friday, and it was determined his behavior "demonstrated poor judgment."
"As for my departure, I engaged in a recent consensual relationship with an employee, which violated McDonald's policy," Easterbrook said in an email to McDonald's employees. "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."
After Easterbrook's removal, the company said Chris Kempczinski would be taking over as CEO.
“I am excited to take the reins of this incredible company and grateful for the Board’s confidence in me,” Kempczinski wrote in an email to employees. “I am particularly fortunate to be surrounded by such a talented team as we take this brand into the future.”
Easterbrook had been CEO at McDonald's since 2015. During his time in charge, the company saw an immense rise in the share price. It has gone up 96% to $193.94 since 2015. Under Easterbrook, McDonald's implemented self-order kiosks and digital menu boards, all-day-breakfasts and more.