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Fired McDonald's CEO repays company $105 million

2 years 2 months 2 weeks ago Friday, December 17 2021 Dec 17, 2021 December 17, 2021 3:59 AM December 17, 2021 in News
Source: WBRZ
Steve Easterbrook Photo: The Sun

The former CEO of McDonald's, fired in 2019 for engaging in inappropriate relationships with employees, has repaid the company $105 million, according to CNN.

McDonald's settled a lawsuit with Steve Easterbrook by forcing him to repay his severance package of more than $100 million.

Easterbrook was fired in 2019 after the company's board decided that he violated company policy by demonstrating "poor judgment involving a recent consensual relationship with an employee." In August 2020, McDonald's sued Easterbrook for lying to the board about the extent of his relationships with employees.

Included in evidence of those relationships, according to the suit, are "dozens of nude, partially nude, or sexually explicit photographs and videos of various women," including photographs of the three employees. Easterbrook allegedly attached the images to emails he sent from his work to his personal account.

In a filing to the US Securities and Exchange Commission Thursday, McDonald's censured Easterbrook for his "misconduct, lies, and efforts to impede investigations into his actions" and that the settlement is the best way to move forward.

"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 the filing. "The resolution avoids a protracted court process and allows us to move forward."

In the SEC filing, Easterbrook admitted that he "failed at times to uphold McDonald's values," and apologized to the board, former co-workers, and to the company's franchisees and suppliers.

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