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The dismissal of McDonald's CEO incurs billions of dollars in losses

2019-11-05T08:30:42.856Z

Shares of McDonald's fell on Monday after the company announced the dismissal of its chief executive, Stephen Easterbrook, who was involved in an emotional relationship with a female worker in the company, which officials described as a misunderstanding and appreciation of the company's laws that prevent emotional involvement among its employees.



Shares of McDonald's fell on Monday after the company announced the sacking of its chief executive, Stephen Easterbrook, who was involved in an emotional relationship with a worker in the company, which officials described as a misunderstanding and appreciation of the company's laws that prevent emotional involvement among employees.

McDonald's lost $ 4 billion of its market value, according to Business Insider.

The sacking decision, issued at the end of last weekend, caused McDonald's shares to fall 3 percent on Monday.

Shares were trading at around $ 188 in the early afternoon, down 3.11 percent.

The drop in shares led to a loss of $ 4 billion in value, based on market capitalization of around $ 147.3 billion at Friday's close.

Since Easterbok took over in 2015 at the company, he has led the transformation of the company, leading to a doubling of McDonald's share price.

Also read:

With a salary of $ 16 million a year, McDonald's sacked its chief executive

Source: emara

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