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Former McDonald's chief Easterbrook steps down from Walmart board

Reuters
Updated

Nov 5 (Reuters) - Steve Easterbrook, the chief executive officer of McDonald's Corp who was dismissed over the weekend, has resigned from Walmart Inc's 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 https://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)