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Ousted McDonald’s CEO resigns from Walmart board

Steve Easterbrook steps down after being fired by the fast-food giant

Michael Browne, Executive Editor

November 5, 2019

1 Min Read
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Steve Easterbrook has stepped down from the board at Walmart on Monday, one day after McDonald’s announced he was being dismissed as CEO for violating company policy by having a consensual relationship with a McDonald’s employee.

According to a Walmart regulatory filing yesterday, “On November 4, 2019, Stephen J. Easterbrook informed Walmart Inc. that he will resign as a member of the Board of Directors of the Company, effective immediately. Mr. Easterbrook’s decision to resign was not due to any disagreement with the Company on any matter relating to its operations, policies or practices.”

mcDonalds easterbrook 200.jpg

Easterbook (left) had joined the Walmart board in 2018, three years after being named McDonald’s CEO. As a Walmart board member, he sat on committees that focused on management development and finance.

On Sunday, McDonald's announced that it had “separated” Easterbrook from the company for violating policy and demonstrating “poor judgment involving a recent consensual relationship with an employee.”

In an email sent to McDonald’s employees, Easterbrook admitted to breaking a company policy by becoming involved with an employee. “This was a mistake,” he wrote. “Given the values of the company, I agree with the Board that it is time for me to move on. Beyond this, I hope you can respect my desire to maintain my privacy.”

Related:Walmart realigns organization to drive omnichannel

The Chicago-based named Chris Kempczinski, most recently president of McDonald’s USA, as CEO and president, effective immediately. 

Walmart had no additional comment beyond its regulatory filing.

About the Author

Michael Browne

Executive Editor, Supermarket News

Michael Browne joined Supermarket News in 2018 after serving in managing and executive editor capacities at leading B2B media brands including Convenience Store NewsLicense Global and Travel Agent. He also previously served as content production manager for print and digital in the Business Intelligence division of Informa, parent company of Supermarket News and Nation’s Restaurant News.

As executive editor, Mike oversees the editorial content of supermarketnews.com as well as the monthly print publication. He also directs all content-based brand-related projects including the annual Top 75 Retailers report, Category Guide, Retailer of the Year, research surveys and special reports, as well as podcast and webinar content. Mike has also presented and moderated at industry events.

In addition to the positions mentioned above, Mike has also worked as a writer and/or editor for special projects at American Legal Media (ALM), managing editor for Tobacco International, special projects editor at American Banker • Bond Buyer, and as production editor for Bank Technology News and other related financial magazines and journals published by Faulkner & Gray.

A graduate of Fordham University, Mike is based in New York City, where he was born and raised.

Contact Mike at [email protected] or follow him on Twitter and LinkedIn.

 

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