Steve Easterbrook

Steve Easterbrook. He is a British business executive best known for his tenure as the chief executive officer of the global fast food chain McDonald's from 2015 to 2019. His career at the company was marked by efforts to modernize the brand and improve financial performance, but ended abruptly following a controversy over his personal conduct. Easterbrook has since been involved in various business ventures and investments.

Early life and education

Steve Easterbrook was born in Watford, Hertfordshire, and attended St. Albans School. He pursued higher education at the University of Warwick, graduating with a Bachelor of Science degree in Chemistry. His early professional experience included roles in finance and management at companies like PwC and the PizzaExpress restaurant chain, which provided a foundation in both corporate strategy and the foodservice industry.

Career at McDonald's

Easterbrook first joined McDonald's in 1993, holding various marketing and management positions in the United Kingdom. He rose through the ranks, eventually becoming the CEO of McDonald's UK and later the president of McDonald's Europe. After a brief departure to lead the English Football League club Preston North End F.C. and serve as CEO of the PizzaExpress and Wagamama chains, he returned to McDonald's in 2013 as the Global Chief Brand Officer. In March 2015, he was appointed President and CEO of McDonald's Corporation, succeeding Don Thompson. His leadership focused on initiatives like all-day breakfast, digital ordering via kiosks and the McDonald's app, store renovations, and a commitment to sourcing sustainable ingredients, which contributed to a significant rise in the company's stock price.

Departure and controversy

In November 2019, the board of directors of McDonald's Corporation terminated Easterbrook for violating company policy by engaging in a consensual relationship with an employee. The board determined this demonstrated poor judgment and was a breach of his fiduciary duties. His departure was initially framed as a resignation, and he received a substantial severance package valued at tens of millions of dollars. However, in August 2020, following an investigation initiated by a tip from an anonymous employee, McDonald's filed a lawsuit in the Delaware Court of Chancery, alleging he had concealed sexual relationships with three other employees prior to his termination and destroyed evidence. The company sought to recover the value of his severance pay. The case was settled in December 2021, with Easterbrook agreeing to repay over $105 million in cash and equity to the corporation.

Post-McDonald's activities

Following his departure from McDonald's, Easterbrook has maintained a lower public profile. He has engaged in private business consulting and investment activities. Reports indicate he has provided advisory services to firms in the consumer goods and retail sectors, and has invested in several startup ventures, though specific companies have not been widely disclosed. He has not taken another high-profile executive role at a major public corporation since the controversy.

Personal life

Easterbrook is known to be a private individual regarding his family life. He has been married and has children. An avid football fan, his brief tenure as CEO of Preston North End F.C. in 2011 reflected this personal passion. He resides primarily in the United Kingdom and maintains a residence in the United States as well. His interests outside of business reportedly include football, cricket, and music.

Category:1967 births Category:Living people Category:British chief executives Category:McDonald's people Category:Alumni of the University of Warwick Category:People from Watford