McDonald's has fired its chief executive Steve Easterbrook after he had a relationship with an employee.
The US fast food giant said the relationship was consensual, but Mr Easterbrook had "violated company policy" and shown "poor judgement".
In an email to staff, the British businessman acknowledged the relationship and said it was a mistake.
"Given the values of the company, I agree with the board that it is time for me to move on," he said.
Mr Easterbrook, 52, who is divorced, first worked for McDonald's in 1993 as a manager in London before working his way up the company.
He left in 2011 to become boss of Pizza Express and then Asian food chain Wagamama, before returning to McDonald's in 2013, eventually becoming its head in the UK and northern Europe.
He was appointed chief executive of McDonald's in 2015.
Mr Easterbrook is widely credited with revitalising the firm's menus and restaurants, by remodelling stores and using better ingredients. The value of its shares more than doubled during his tenure in the US.
Under his leadership, McDonald's also expanded its delivery and mobile payment options to emphasise convenience.
The fast food giant's board voted on Watford-born Mr Easterbrook's departure on Friday after a review.
He has also stepped down as McDonald's president and member of the board.
The company's rules for managers prohibit them from become romantically involved with a subordinate.
It will release details of Mr Easterbrook's severance package on Monday, details of which will be closely watched.
The company has been criticised over the amount it pays shop staff, and Mr Easterbrook faced scrutiny for his $15.9m (£12.3m) pay packet in 2018. It was 2,124 times the median employee salary of $7,473.
He will be replaced by Chris Kempczinski, most recently president of McDonald's USA, with immediate effect.
In a statement, Mr Kempczinski thanked Mr Easterbrook for his contributions, adding: "Steve brought me into McDonald's and he was a patient and helpful mentor."
Last year Intel boss Brian Krzanich stepped down for having a consensual relationship with an Intel employee, which was against company rules.
He had been in the post since May 2013.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
Akufo-Addo’s tenure has left Cocoa communities poorer, says Joyce Bawah
5 mins -
Suspension of Foreign Exchange Licence does not affect normal banking operations – CBG
19 mins -
Over 1K SMEs assessed for technical support to export in short and medium terms – GEPA
45 mins -
Lydia Alhassan confident of retaining Ayawaso West Wuogon seat
47 mins -
STEM, TVET to boost entrepreneurship and self-reliance in Zongo communities
49 mins -
Ghana Academy of Arts and Sciences inducts new fellows
49 mins -
‘For our future, choose peace’ – Pupils advocate peaceful elections
50 mins -
Ongoing operation to safeguard border will not restrict voting rights – GIS Volta
1 hour -
Bosomtwe will see massive upgrade under my presidency – Bawumia
1 hour -
Mahama blames NPP for collapse of PBC
1 hour -
GHS suggests bringing back COVID-19 protocols to combat Cholera spread
1 hour -
Nursing and Midwife trainees threaten to vote against NPP over unpaid allowances
1 hour -
Merging struggling entities won’t fix energy sector, timing is crucial – IES boss
2 hours -
AGI promotes socioeconomic growth by nurturing small and micro enterprises
2 hours -
Party leaders urged to encourage supporters to desist from violent acts
2 hours