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Friday, October 4
Steve Easterbrook, former CEO of McDonald's must return more than $ 100 million to the company
McDonald’s settled a lawsuit against former CEO Steve Easterbrook, who must pay his severance package of more than $ 100, 000, 04 dollars, after it was fired from the company.
The resolution in favor of the fast food giant is considered as one of the executive compensation largest in the history of the business world .
Stve Easterbrook was fired in 2019 after McDonald’s determined he violated Company policy by demonstrating a lack of judgment after a consensual relationship with an employee is involved.
In August 2020, McDonald’s filed a lawsuit against Easterbrook for lying to the board about the extent of your relationships with employees .
Before the US Securities and Exchange Commission, McDonald’s criticized Easterbrook for his “misconduct, lies, and efforts to prevent investigations into his actions.” The company added that reaching a settlement is the best way forward.
“This settlement holds Steve Easterbrook accountable for his clear misconduct, including the way he exploited his position as CEO, ”said Enrique Hernández, Jr., chairman of the McDonald’s board of directors, at the presentation. “The resolution avoids a lengthy judicial process and allows us to move forward.”
Easterbrook admitted that “sometimes failed to uphold McDonald’s values and fulfill some of my responsibilities as the leader of the company. ” He also apologized to the board, former co-workers, franchisees and suppliers of the company.
Steve Easterbrook will have to return the full amount of your compensation package of $ 105, 000, 000 of dollars and stocks.
McDonald’s lawsuit claims that the company was informed of Easterbrook’s other relationships with employees in July and opened a new investigation that found evidence of three sexual relationships.
The evidence of these relationships, according to the lawsuit, was presented in the form of “dozens of nude, partially nude or sexually explicit photos and videos of various women,” including photos of the three female employees. Easterbrook allegedly attached the images to emails he sent from his work to his personal account.
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