Fired McDonald's CEO steps down from Walmart board
The decision to resign is effective immediately.
Ousted McDonald’s CEO Stephen Easterbrook has stepped down as a member of Walmart's board of directors.
According to a Securities and Exchange Commission filing, Easterbrook informed the company Monday of his decision to resign effective immediately after joining the board in 2018.
Walmart declined to comment on the matter.
Steve Easterbook (Credit: McDonald's)
Easterbrook is one of a dozen board members currently listed on the company's website who ensure "Walmart operates with integrity and accountability."
He was fired from McDonald's after violating company policy by engaging in a consensual relationship with an employee, the company said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MCD | MCDONALD'S CORP. | 292.44 | -1.80 | -0.61% |
MCDONALD’S FIRES CEO FOR INAPPROPRIATE RELATIONSHIP WITH EMPLOYEE
The fast-food giant said Easterbrook demonstrated poor judgment, and that McDonald’s forbids managers from having romantic relationships with direct or indirect subordinates.
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In an email to employees, Easterbrook acknowledged he had a relationship with an employee and said it was a mistake.
According to Monday's filing, his decision to resign from Walmart was not due to "any disagreement with the company on any matter relating to its operations, policies or practice."
The Associated Press contributed to this report.