The company said its board of directors carried out a “thorough review” before voting on his departure on Friday.
Eight of the strangest McDonald's meals from around the world
Show all 8
Details of his separation package will be released later this week in a federal filing, according to a company spokesperson.
Mr Easterbrook, who was born in Watford, first joined the company in 1993 and became chief executive in 2015 after stints at Wagamama and Pizza Express.
Over the last four years he has overseen a doubling of the company’s share price to around $200.
The board of directors announced the new chief executive and president was Chris Kempczinski, who was previously responsible for the running of 14,000 restaurants in the US.
Mr Kempczinski said he was “thrilled” to lead the company.
“We have a responsibility not only to serve great food, but to make it responsibly and to enrich the communities in which we operate,” he added. “I am energised by this challenge and look forward to guiding McDonald’s continued success.”
McDonald’s said the change of leadership was unrelated to the company’s operational or financial performance. It is planning to file its third-quarter earnings report later this week.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies