Steve Easterbrook. Picture: GETTY IMAGES/AFP/DREW ANGERER
Easterbrook was seen as relentless in his push to capture a new generation of customers who would be willing to order through smartphone apps, pay online, and choose to have food delivered to home or work instead of venturing into the outlets. To stress urgency, he tied executives’ compensation to the speed and breadth of the delivery rollout, and worked with vendors including UberEats.
“You can make a very strong argument that Easterbrook was the best CEO in the restaurant industry,” said Michael Halen, who covers the sector for Bloomberg Intelligence. The stock closed at $193.94 a share on November 1, giving it a market capitalisation of $147.3bn. In a letter responding to an inquiry from US senator Tammy Duckworth, from the chain’s home state of Illinois, Easterbrook said the company has improved its policy and is committed “to ensuring a harassment and bias-free workplace”.
“Chris has been an important partner to me over the last four years and is the ideal person to take on the role of CEO,” Easterbrook said in his departure note.Kempczinski’s challenge In recent quarters, McDonald’s has been one of the industry’s best performers, with same-store sales rising 5.9% globally in the latest quarter, more than analysts had projected.
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