January 1, Fired McDonald’s CEO Returns $105M After Misconduct

McDonald’s settled a lawsuit against disgraced former CEO Steve Easterbrook, rescinding his severance payment of $105 million.

The fast-food giant initially brought its suit in August 2020, alleging he committed fraud and lied during the company’s internal investigation into his behavior months earlier.

The company fired Easterbrook in 2019 after finding he had a consensual relationship with an employee and granted him a severance package.

According to the lawsuit, McDonald’s reopened its investigation following new information in July 2020. The probe allegedly revealed that Easterbrook lied to the company and destroyed information pertaining to his inappropriate behavior.

“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,” Easterbrook said in a statement. “I apologize to my former co-workers, the Board, and the company’s franchisees and suppliers for doing so.” 

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McDonald’s fired CEO returns $105 million after misconduct