The CEO of McDonald's left the fast food chain after having a relationship with another employee.
Steve Easterbrook told the team via email that the relationship was consensual but admitted that it violated the company's terms.
McDonald's said Easterbrook showed bad judgment.
The company does not allow managers to have romantic relationships with direct or indirect employees.
In an e-mail to employees, Briton Easterbrook said the relationship was a mistake.
He said, "Given the values of the company, I agree with the advice that it's time to move on."
The company's board of directors voted to leave after conducting a review.
His separation package will be clear on Monday when details are released in a federal archive, a spokesman said.
Chris Kempczinski will take over as president and chief executive officer
Chris Kempczinski, who was recently president of McDonalds USA, will be the new CEO.
He has been "instrumental" in developing the company's strategic plan and overseeing the most comprehensive transformation of US business in chain history, according to board chairman Enrique Hernandez.
Kempczinski said, "Steve brought me to McDonald's and he was a patient and helpful mentor."