McDonald's announced Thursday it has settled its lawsuit against former CEO Steve Easterbrook, clawing back his $105 million severance payment.
McDonald's announced Thursday it has settled its lawsuit against former CEO Steve Easterbrook, clawing back his severance payment valued at $105 million.
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.
"During my tenure as CEO, I failed at times to uphold McDonald's values and fulfill certain of my responsibilities as a leader of the company," he said in a statement. "I apologize to my former co-workers, the Board, and the company's franchisees and suppliers for doing so." Corporate governance experts questioned the board's initial investigation into Easterbrook, asking why the probe was completed so quickly and why its servers weren't checked, as is typical for those kinds of investigations.
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