McDonald's is set lose $3.4 billion in value after the CEO was fired over a relationship with a subordinate

Chris Kempczinski, who was previously serving as president, took over from ousted CEO Steve Easterbrook effective immediately.

McDonald's on Friday fired its CEO, Steve Easterbrook, for violating its policy of having a relationship with an employee. McDonald's shares sank 2.3% in premarket at 10 am in London , which would wipe about $3.4 billion off the company's value. Since Easterbrook took the helm in 2015, McDonald's share price has more than doubled. Watch McDonald's trade live here. View Business Insider's homepage for more stories.

McDonald's on Friday fired its CEO, Steve Easterbrook, for violating its policy of having a relationship with an employee. McDonald's shares sank 2.3% in premarket at 10 am in London , which would wipe about $3.4 billion off the company's value. Since Easterbrook took the helm in 2015, McDonald's share price has more than doubled. Watch McDonald's trade live here. View Business Insider's homepage for more stories.

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