Posted on by

Steve Easterbrook, Former McDonald’s C.E.O., Repays Company $105 Million



Share

Mr. Easterbrook initially decided to fight the lawsuit, and his lawyers filed a motion to dismiss, calling it “meritless and misleading.”Updated Dec. 16, 2021, 12:46 p.m. ETBut with his agreement to return the huge sum of cash and stock to the company, Mr. Easterbrook has effectively conceded what was shaping up to be a long and costly legal battle. Mr. Easterbrook apologized in a statement released by the company.“During my tenure as C.E.O., I failed at times to uphold McDonald’s values and fulfill certain of my responsibilities as a leader of the company,” he said. “I apologize to my former co-workers, the board, and the company’s franchisees and suppliers for doing so.”Even while McDonald’s has posted robust earnings during the pandemic, some investors have been critical of how Mr. Easterbrook’s dismissal was bungled. Late this summer, some investors voted against the re-election of certain longtime board members, including Mr. Hernandez. McDonald’s also still …

Read More