McDonald's (NYSE: MCD) terminated CEO Steve Easterbrook for having a consensual relationship with an employee. The company's board of directors said on Sunday that Easterbrook violated McDonald's policies and demonstrated "poor judgment."
Chris Kempczinski, who has served as president of the restaurant chain's U.S. business, will replace Easterbrook as CEO. Kempczinski will also join McDonald's board of directors.
"Chris takes the reins of this great company at a time of strong, sustained performance, and the board has every confidence that he is the best leader to set the vision and drive the plans for the company's continued success," Chairman Enrique Hernandez Jr. said in a press release. "He has the right mix of skills and experience to lead us forward having run our U.S. business, where franchisees are delivering strong financial and operational results, and overseen global strategy, business development and innovation."
Source Fool.com