Fresh York (CNN Business)McDonald’s has settled a lawsuit with former CEO Steve Easterbrook, forcing the disgraced executive to repay his severance equipment of more than $100 million.
Easterbrook used to be fired in 2019 after the short meals big’s board certain that he violated firm policy by demonstrating “wretched judgment inviting a most modern consensual relationship with an worker.” In August 2020, McDonald’s filed a lawsuit in opposition to Easterbrook for mendacity to the board in regards to the extent of his relationships with workers.
In a submitting to the US Securities and Commerce Commission Thursday, McDonald’s criticized Easterbrook for his “misconduct, lies, and efforts to bog down investigations into his actions” and that the settlement is the correct direction ahead.
“This settlement holds Steve Easterbrook accountable for his obvious misconduct, at the side of the skill in which he exploited his station as CEO,” Enrique Hernandez, Jr., the chairman of McDonald’s board of administrators, stated within the submitting. “The resolution avoids a chronic court docket job and permits us to transfer ahead.”
Easterbrook admitted within the SEC submitting that he “failed at cases to uphold McDonald’s values and fulfill certain of my responsibilities as a trip-setter of the firm.” He furthermore apologized to the board, former co-workers and the firm’s franchisees and suppliers.
The whole quantity of his severance equipment is $105 million in money and inventory. Nevertheless, or no longer it’s no longer obvious how grand of that is inventory or money.
McDonald’s lawsuit states that the firm used to be tipped off to Easterbrook’s different relationships with workers in July, and opened a brand current investigation that found out proof of three sexual relationships.
The proof for those relationships, according to the swimsuit, got here within the create of “dozens of nude, partly nude, or sexually particular images and movies of diverse ladies,” at the side of images of the three workers. Easterbrook allegedly connected the images to emails he sent from his work to his private sage.
