McDonald’s Fires CEO After ‘Relationship’ With Employee, Shares Drop

Steve Easterbrook, chief executive officer of McDonald's, attends the annual Allen & Company Sun Valley Conference in Sun Valley, Idaho, on July 10, 2019. Drew Angerer/Getty Images

Shares for McDonald’s dropped after CEO Steve Easterbrook was fired after he had a relationship with an employee, which violated the company’s policy.

Chris Kempczinski, who was the head of the firm’s U.S. business, is now new CEO, the company said in an announcement on Sunday night.