Easterbrook, who was head of McDonald's UK division until November last year, will fill the vacancy left by Mark Angela, who departed Pizza Express in July.
In his new role Easterbrook will be responsible for overseeing Gondola Holdings' 400-strong restaurant chain and is expected to help it with its expansion plans both in the UK and overseas.
Announcing his departure from McDonald's yesterday, Easterbrook said it had been 'a real privilege' to lead the company in Europe and the UK.
“In this time we have made many changes to our business that are clearly appreciated by our customers and staff. I leave knowing that this work will continue and I wish my colleagues every success," he said.
As president of McDonald's Europe Easterbrook oversaw the operations of more than 7,000 McDonald's outlets in 40 European countries. He was with the company for 18 years.
McDonald's Corporation chief executive Jim Skinner said: “On behalf of everyone at the Golden Arches, I would like to thank Steve for his 18 years of service. We will miss his passion for the brand, and we wish him well as he pursues this new opportunity.”
Doug Goare, current executive vice president of McDonald’s Global Supply Chain and Real Estate Development, will take on Easterbrook's role when he leaves, reporting in to Don Thompson, McDonald's president and chief operating officer.