- McDonald's (NYSE:MCD) has fired Steve Easterbrook as president and CEO for violating the company's policy over a relationship with an employee. Easterbrook will also exit the board.
- "This was a mistake. Given the values of the company, I agree with the board that it is time for me to move on," writes Easterbrook.
- He's been replaced by Chris Kempczinski, who previously ran McDonald's U.S. business. Kempczinski will also join the board.
- Replacing Kempczinski atop the U.S. operation is Joe Erlinger, who previously was president, International Operated Markets.