McDonald’s Takes Back Ex-CEO’s $105 Million Severance Pay
McDonald’s announced Thursday it has settled its lawsuit against former CEO Steve Easterbrook, clawing back his severance payment valued at $105 million.
The fast-food giant first brought a suit against its disgraced ex-chief executive in August 2020, claiming he committed fraud and lied during the company’s internal probe into his behavior months earlier. As a result of that investigation, the company’s board found Easterbrook had a consensual relationship with an employee and fired him in November 2019. Despite their findings, the board still granted him a severance package that included cash and equity.
In the lawsuit, McDonald’s alleged that new information about Easterbrook’s actions came to light in July 2020, prompting further investigation from the company. A probe allegedly revealed that Easterbrook lied to the company and destroyed information regarding his inappropriate behavior, including three alleged additional sexual relationships with employees before his firing.
