Former McDonald’s CEO Had To Pay Back $105M In Severance Pay After Lying About Nude Photos

  • Ex-McDonald’s CEO Steve Easterbrook agreed to return the $105m in severance compensation along with his equity awards to the company after issuing an apology for failing to “uphold McDonald’s values.” 
  • The company initially paid his severance but later sued to take the money back after it was discovered that his denials of having consensual sexual relationships with employees were a lie.
  • Over the last five years, over 50 workers have filed charges against the company, alleging physical or verbal harassment and even some cases of retaliation by the accused.

Graig Graziosi from The Independent writes:

“A former McDonald’s CEO had to repay more than $105m in compensation after he was accused of lying about inappropriate workplace relationships.

Steve Easterbrook agreed to return the money and his equity awards to the company, issuing an apology admitting that he failed to “uphold McDonald’s values” as part of his settlement agreement.

Mr Easterbrook was fired in 2019 after it was discovered he had been sending inappropriate texts and videos to an employee with which he had a non-physical, consensual relationship. The company initially payed him severance, but later sued to take the money back when it discovered he had lied about having consensual relationships with three other workers.

The executive’s severance was originally valued at $42m when it was issued in 2019, and his stock earnings from the company were estimated by executive pay firm Equilar at $62m…”

See full story here.

Categories: Business, Economy, Labor

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