Operations
McDonald's to get back $105M from fired CEO
December 17, 2021
McDonald's has settled its lawsuit against former CEO Steve Easterbrook, who must repay more than $100 million he received as severance for leaving the company. Easterbrook was fired for misconduct in 2019, according to a CNN report.
The McDonald's board fired Easterbrook for exhibiting "poor judgment involving a recent consensual relationship with an employee."
"This settlement holds Steve Easterbrook accountable for his clear misconduct, including the way in which he exploited his position as CEO," Enrique Hernandez, Jr., the chairman of McDonald's board of directors, said in a filing to the U.S. Security and Exchange Commission. "The resolution avoids a protracted court process and allows us to move forward."
It is unclear how much of the $105 million is cash or stocks, according to the CNN report.
Related Media
Subscribe
Get the latest news and resources from QSR Web.
