McDonald's CEO fired after affairs with workers fined $400K by SEC
McDonald’s fired Easterbrook in November 2019 for exercising “poor judgment” by engaging in a relationship with a McDonald’s employee, the SEC said.
But Easterbrook failed to disclose other additional violations of company policy he committed by engaging in undisclosed relationships with other employees of the fast-food giant, it said. The agency also charged McDonald’s with “shortcomings” in its public disclosures related to Easterbrook’s ouster, but did not impose any fines on McDonald’s due to the firm’s “substantial cooperation” with the investigation, the SEC said.
McDonald’s fired Stephen Easterbrook in November 2019 for exercising “poor judgment” by engaging in a relationship with a McDonald’s employee, the SEC said.Attorneys for Easterbrook, who consented to the order but did not admit or deny the SEC’s findings, did not respond immediately to calls for comment. McDonald’s said in a statement that the settlement reinforced the fact it held Easterbrook “accountable for his misconduct.
In 2021, Easterbrook returned over $105 million he received as a severance package in 2019 and apologized to the company to “We fired him, and then sued him upon learning that he lied about his behavior,” the firm said in its statement on Monday.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC charges ex–McDonald's CEO Easterbrook for making false statements relating to his 2019 ousterU.S. securities regulator is also charging McDonald's with public disclosure violations relating to Easterbrook's separation agreement.
Read more »
SEC fines former McDonald's CEO for misleading investors about his firingThe SEC filed charges against former McDonald's CEO Steve Easterbrook for misrepresenting why he was fired in November 2019 and charged him a $400,000 fine.
Read more »
SEC charges former McDonald's CEO Stephen EasterbrookMcDonald’s former CEO Stephen Easterbrook has been charged by federal regulators with making false and misleading statements to investors about the circumstances leading to his firing in November 2019.
Read more »
SEC Charges Former McDonald’s CEO with Misleading InvestorsFormer McDonald’s CEO Stephen Easterbrook has been charged by federal regulators with making false and misleading statements to investors about the circumstances of firing by the burger giant in November 2019.
Read more »
SEC charges former McDonald's CEO Easterbrook with misleading investorsFormer McDonald's CEO Stephen Easterbrook has been charged by federal regulators with making false and misleading statements to investors about the circumstances of firing by the burger giant in November 2019.
Read more »