The US Securities and Exchange Commission (SEC) charged former McDonald’s CEO Steve Easterbrook with cheating. The agency’s investigation is related to misleading shareholders about the reasons for the resignation.
In 2019, he was fired for having an affair with a colleague. McDonald’s Employee Code of Conduct prohibits intimate relationships with employees. After his resignation, Easterbrook was awarded a $105 million severance package.
In 2020, during the investigation, it turned out that he hid intimate relationships with three other employees, and also destroyed evidence. The company sued him, in 2021 Easterbrook returned the money paid.
The businessman neither admitted nor denied the accusations. However, he agreed to pay a $400,000 fine, reports CNBC.
Steve Easterbrook started working as a manager at McDonald’s in London in 1993. In 2011, he temporarily left McDonald’s and headed first the Pizza Express restaurant chain and then the Asian chain Wagamama, after which he returned to McDonald’s.
In 2015 he became CEO of the company and since then has introduced many changes, both in the menu and in the interior of the McDonald’s establishments. During his time at the helm of the company, his share price doubled.
Steve Easterbrook has been criticized for the size of his salary: he was paid $15.9 million in 2018, when the average salary for McDonald’s employees was $7,473.
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