Former McDonald’s chief Easterbrook steps down from Walmart board

Former McDonald’s chief Easterbrook steps down from Walmart board

FILE PHOTO: Steve Easterbrook, CEO of McDonald’s Corp., attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 10, 2019. REUTERS/Brendan McDermid/File Photo

(Reuters) – Steve Easterbrook, the chief executive officer of McDonald’s Corp (MCD.N) who was dismissed over the weekend, has resigned from Walmart Inc’s (WMT.N) board, the retailer said on Tuesday.

On Sunday, McDonald’s, the world’s biggest fast-food chain, said it had dismissed Easterbrook over a recent consensual relationship with an employee, which the board determined violated company policy.

“Easterbrook’s decision to resign was not due to any disagreement with the company on any matter relating to its operations, policies or practices,” Walmart said in a regulatory filing www.sec.gov/ix?doc=/Archives/edgar/data/104169/000010416919000077/form8-kx1142019.htm.

Easterbrook joined Walmart’s board in 2018 and was a part of the compensation and management development, strategic planning and finance committees.

Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel

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