Former McDonald’s CEO Steve Easterbrook has returned $105 million in fairness awards and money to the firm.
The cash in settlement of a lawsuit that the fast-food titan had introduced in opposition to its ex-chief over what it calls “his misconduct, lies, and efforts to impede investigations into his actions.”
Easterbrook has additionally apologized. He was fired in 2019 for having a relationship with an worker, violating firm coverage. He’s stated that it occurred solely as soon as, however McDonald’s discovered that that wasn’t true and filed a lawsuit in opposition to him.
“McDonald’s and its Board of Directors value doing the right thing and putting customers and people first,” Easterbrook stated in a written assertion. “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. I apologize to my former co-workers, the Board, and the company’s franchisees and suppliers for doing so.”
Chris Kempczinski is the present CEO of McDonald’s.
“This settlement holds Steve Easterbrook accountable for his clear misconduct, including the way in which he exploited his position as CEO,” board chairman Enrique Hernandez, Jr. stated. “The resolution avoids a protracted court process and allows us to move forward. It also affirms the Board’s initial judgment to pursue this case. ”