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Steve Easterbrook

Steve Easterbrook

British business executive, former boss of the McDonald's
Steve Easterbrook
The basics

Quick Facts

Intro British business executive, former boss of the McDonald's
Is Businessperson Business executive Accountant Merchant Entrepreneur
From United Kingdom
Type Business Finance
Gender male
Birth 6 August 1967, Watford, Watford, Hertfordshire, United Kingdom
Age 53 years
Star sign Leo
Residence Chicago, Cook County, Illinois, USA
Education
Durham University
Watford Grammar School for Boys
The details

Biography

Stephen James Easterbrook (born 6 August 1967) is a British business executive. From March 2015 to November 2019, he was president and chief executive of McDonald's, the American fast food company.

On 1 November 2019, the board of directors voted to dismiss Easterbrook with immediate effect, due to evidence of a relationship with a staff member, which is a violation of company policy.

Early life

Stephen James Easterbrook was born on 6 August 1967 in Watford, England. He grew up in Watford and was educated there at Watford Grammar School for Boys. He studied natural sciences at St Chad's College, Durham University, where he played cricket with fellow student Nasser Hussain, who would later become England cricket captain.

Career

After university, he trained as an accountant with Price Waterhouse. Easterbrook first worked for McDonald’s in 1993 as a manager in London. In 2011 he left to become CEO of PizzaExpress and then CEO of Wagamama, two British casual dining chains, before returning to McDonald’s in 2013.

On 1 March 2015, after being chief brand officer of McDonald's and its former head in the UK and northern Europe, he became the CEO of the company, succeeding Don Thompson, who stepped down on 28 January 2015. For 2016, Easterbrook's total compensation almost doubled to $15.4 million.

In November 2019, the McDonald's board of directors voted to remove Easterbrook as CEO, as he had violated corporate policies on personal conduct by entering into a relationship with an employee. He was replaced as CEO by Chris Kempczinski, who had been president of McDonald's USA.

In August 2020, McDonald's filed suit against Easterbrook, accusing him of lying about the number and extent of his relationships with employees, and seeking to recover his severance package of more than $40 million. The company claimed that Easterbrook had sexual relationships with three women in the year before he was fired; awarded one of these employees stock options worth hundreds of thousands of dollars; and used his corporate email account to receive and send sexually explicit photos and videos of various women (including the three alleged relationships). The lawsuit is seeking to change the reason for Easterbrook's removal to "for cause", allowing the company to recoup the severance payments.

Personal life

He is divorced with three children, who visit McDonald's two or three times a month. He lives in Illinois, and is a Watford FC football fan.

The contents of this page are sourced from Wikipedia article on 10 Aug 2020. The contents are available under the CC BY-SA 4.0 license.
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Reference sources
References
http://www.chicagotribune.com/business/ct-mcdonalds-executive-pay-0414-biz-20170413-story.html
https://www.britannica.com/biography/Steve-Easterbrook
https://beta.companieshouse.gov.uk/company/02605751/officers
https://www.bloomberg.com/research/stocks/people/person.asp?personId=27064307&ticker=MCD
https://www.independent.co.uk/news/people/profiles/steve-easterbrook-an-appetite-for-more-growth-at-mcdonalds-uk-1996098.html
https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11375911/McDonalds-names-UK-born-Steve-Easterbrook-as-new-chief-executive.html
https://www.theguardian.com/business/2015/jan/29/mcdonalds-new-chief-executive-steve-easterbrook
//www.worldcat.org/issn/0261-3077
https://www.bloomberg.com/news/articles/2015-01-28/mcdonald-s-names-steve-easterbrook-ceo-as-thompson-steps-down
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