McDonald's new CEO tells 'McFamily' he is sharpening focus, seeks employee feedback
The fast food chain's new CEO is reaching out to his global employees
McDonald's new CEO Chris Kempczinski, who replaced Steve Easterbrook, who was fired for a relationship with an employee this month, is embracing his new role at the fast-food giant.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MCD | MCDONALD'S CORP. | 288.44 | -2.44 | -0.84% |
In an employee memo obtained by FOX Business, Kempczinski thanked his "Global McFamily" for welcoming him in his new role and promised to sharpen the company's execution plan heading into 2020.
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"In my conversations with many of you so far, I have been humbled by your encouragement and support....Last week I have met with your Senior Leadership Team and Managing Directors from our largest markets around the globe to sharpen our execution plans for 2020...As I start this journey as your CEO, I'd like to hear from you."
Chris Kempczinski was named McDonald's new president and CEO. (Credit: McDonald's)
Kempczinski was tapped to replace Easterbrook earlier this month after the company learned he was having a consensual relationship with an employee. At the time, the company’s board determined that Easterbrook “violated company policy and demonstrated poor judgment involving a recent consensual relationship with an employee,” it announced.
Desiree Moore, an attorney for Easterbrook, told FOX Business that Easterbrook "is deeply grateful for his time at McDonald’s and continues to believe in the company’s future. He acknowledges his error in judgment and supports the company’s decision. He will not be commenting further at this time."
His severance is a modest six figures for an executive at that level, but he will likely walk away with millions more due to a stock compensation plan.
Shares of McDonald's have gained 9 percent this year, underperforming the S&P 500's 24 percent rise.