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.
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.
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.