NEW YORK (BLOOMBERG) - McDonald's Corp sued ousted leader Steve Easterbrook to recover tens of millions of dollars in severance pay after discovering evidence he had sexual relationships with multiple employees, tried to cover them up and arranged for one worker to get a lucrative stock award.. Read more at straitstimes.com.
NEW YORK - McDonald's Corp sued ousted leader Steve Easterbrook to recover tens of millions of dollars in severance pay after discovering evidence he had sexual relationships with multiple employees, tried to cover them up and arranged for one worker to get a lucrative stock award.
The latest investigation also showed Easterbrook approved a special discretionary grant of restricted stock units worth hundreds of thousands of dollars to one of the employees after their first sexual encounter - and just days before their second, the company said. Companies and ex-executives often settle clawback matters privately to avoid negative publicity, but taking a former leader to court can be a way for boards to distance themselves from inappropriate behaviour.
Easterbrook, who was fired"without cause," got US$675,000 in severance and health insurance benefits and stock awards that Bloomberg valued at more than US$37 million last November. The time stamps on the photos of employees show they were all taken in late 2018 or early 2019, when he was CEO.
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