International News from World: Since having a relationship with an employee, McDonald’s fired his chief executive Steve Easterbrook. The fast-food giant in the United States said the relationship was consensual, but Mr Easterbrook had “violated company policy” and “poor judgment.”
The British businessman, who last year earned almost $16 m (£ 12.3 m), is due to receive pay for 26 weeks. The deal’s full value wasn’t obvious. He is also eligible for a bonus if the company achieves its goals of performance.
Bloomberg predicted he would leave with more than $37 million, the bulk of which included previously issued shares. In exchange, for at least two years, Mr Easterbrook has agreed not to work for a competitor.
Mr Easterbrook remembered the relationship in an email to staff and said it was a mistake.
“I agree with the board that it’s time for me to move on, despite the company’s principles,” he said.
The company has also lost the company’s top human resources director, McDonald’s said. Mr Easterbrook, 52, who is divorced, first worked as a manager in London for McDonald’s in 1993 before moving up the company.
In 2011, he left to become boss of Pizza Express and then Asian food chain Wagamama, before returning to McDonald’s in 2013 and eventually becoming his head in the UK and Northern Europe.