United States  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Cramer: Care More About New McDonald's CEO than Easterbrook's 'Bad Judgement'

Video Credit: The Street - Duration: 01:25s - Published < > Embed
Cramer: Care More About New McDonald's CEO than Easterbrook's 'Bad Judgement'

Cramer: Care More About New McDonald's CEO than Easterbrook's 'Bad Judgement'

McDonald's announced Sunday that chief executive and president Steve Easterbrook was fired after "he violated company policy and demonstrated poor judgment involving a recent consensual relationship with an employee," the company said.

Easterbrook also resigned from the board of the burger giant.

He sent an email to employees on Sunday saying that he violated company policy.

"This was a mistake," Easterbrook wrote.

"Given the values of the company, I agree with the board that it is time for me to move on." Chris Kempczinski is taking over the chief executive and president role, said the company.

Kempczinski, former president of McDonald's USA, has also been elected to the board.

The price target for McDonald's was lowered to $195 from $224 at Piper Jaffray Monday morning.

The stock has gained 96% with Easterbrook at the helm since March 2015.

In the company's third-quarter earnings release last month, it reported that earnings per share of $2.11 were flat with the prior year.

That number missed the Street's consensus forecast of $2.21 per share.

Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud Catch Up: Today's Top News Videos Below

0
shares
ShareTweetSavePostSend
 

You Might Like


Tweets about this


Recent related videos from verified sources

Jim Cramer on the Potential Postponement of a U.S.-China Trade Deal, Salesforce [Video]Jim Cramer on the Potential Postponement of a U.S.-China Trade Deal, Salesforce

Jim Cramer weighs in on the potential postponement of a U.S.-China trade deal, and what's the one thing that new investors need to know about the volatility in the market. What's Going On With the..

Credit: The Street     Duration: 07:54Published

A Good-News Trifecta For Google's Alphabet [Video]A Good-News Trifecta For Google's Alphabet

it's a good day to be Google parent company Alphabet GOOGL, and certainly a shareholder. Alphabet received an out-of-the-gate one-year price target upgrade on Tuesday from Citi analyst Jason Bazinet,..

Credit: The Street     Duration: 02:12Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.