McDonald’s announced Thursday that it settled a lawsuit with its former CEO who paid back the company over $100 million.
Former McDonald’s chief executive Steve Easterbrook returned his severance package worth approximately $105 million after reportedly lying about information regarding inappropriate behavior with employees, including three alleged additional sexual relationships with employees, CNBC reported.
Easterbrook was fired in 2019 after having a consensual relationship with an employee, CNBC reported. McDonald’s filed a lawsuit against the former executive in August 2020, claiming he committed fraud and lied about his sexual relationships during an internal investigation.
“This settlement holds Steve Easterbrook accountable for his clear misconduct, including how he exploited his position as CEO,” Enrique Hernandez, Jr, chairman of the McDonald’s Corporation board of directors, said in a press release obtained by the Daily Caller News Foundation.
“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,” Hernandez said.
Easterbrook apologized for his misconduct, citing his failure to lead the company properly.
“McDonald’s and its Board of Directors value doing the right thing and putting customers and people first,” Easterbrook said in a statement obtained by the DCNF. “During my first 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,” Easterbrook added.
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