Dividend Investors Shouldn't Worry About McDonald's
McDonald's (NYSE: MCD) fired its former CEO Steve Easterbrook because he violated company policy by having a consensual relationship with another employee. The board of directors really had no choice, as its rules were clear and did not offer any loopholes that would allow an exception.
Losing Easterbrook comes as a blow to investors. As CEO, he reversed the company's fortunes by embracing technology, adding delivery, and modernizing stores. That has steadily paid off with strong comparable-stores sales including a global increase of 5.9% in the most recent quarter, which also saw U.S. sales jump by 4.8%. Easterbrook himself celebrated these numbers in McDonald's third-quarter earnings release days before being fired.
"Our third-quarter performance was strong, and broad-based momentum continued with our 17th consecutive quarter of global comparable sales growth," he said. "Globally, our customers are rewarding our commitment of running better restaurants and executing our Velocity Growth Plan by visiting more often."
Source Fool.com
