McDonalds sued former CEO for $40 million in severance compensation

category:Finance
 McDonalds sued former CEO for $40 million in severance compensation


(McDonalds 8K form, source: sec)

According to media estimates, McDonalds dismissal of Easterbrook in November last year for showing bad judgment was worth $40 million. McDonalds said that if it had known what the former CEO had done, it would not have signed such a compensation agreement with it, and it is currently going through legal procedures to recover the compensation.

McDonalds disclosed in the announcement that the new evidence appeared in July this year triggered a new round of investigation against the former CEO, which showed that he lied to the board of directors and was suspected of destroying evidence during the investigation. Easterbrook told investigators in October last year that he had a voluntary relationship with only one employee, the company said.

However, according to the latest survey, Easterbrook had at least three other employees from the end of 2018 to the beginning of 2019, and sent pictures containing these employees erotic photos to his personal mailbox through the companys email account, and removed the traces before external investigators inspected its equipment. Meanwhile, Easterbrook, while maintaining a relationship with one of the employees, approved the grant of shares worth hundreds of thousands of dollars.

Easterbrook, 53, became CEO of McDonalds in 2015. In the same year, he divorced his wife and had three children. Affected by the news, McDonalds fell 0.64% as of press release.

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