Ousted McDonald’s CEO Steve Easterbrook has resigned from the board of Walmart, effective immediately.
on Friday, accusing him of violating company policy by having a consensual relationship with an employee. The company announced the decision Sunday evening. Chris Kempczinski, who most recently served as head of McDonald's U.S. division, is the fast-food chain's new chief executive.
Easterbrook will receive 26 weeks of severance. Last year, he earned $15.9 million in total compensation, including a $1.3 million base salary. If McDonald's hits its performance targets for 2019, Easterbrook will also be eligible for a prorated payment based on his termination date. In 2018, he earned $2.5 million from nonequity incentive plan compensation.
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