Learn more about ‘McDonald: Was Steve Easterbrook Dating Any Of His Coworkers?’ Stephen Easterbrook is a British business executive who served as McDonald’s president and CEO.
After being embroiled in a romantic controversy, the CEO of an American fast-food firm was sacked in 2019. Easterbrook held the Company’s highest position from March 2015 until his dismissal in November 2019.
McDonald: Was Steve Easterbrook Dating Any Of His Coworkers?
On November 1, 2019, the Mcdonald’s board of directors voted to fire Steve Easterbrook immediately following evidence of his affair with a staff worker.
His four-year stay with the Company was terminated due to the relationship, which violated the Company’s anti-fraternization policies.
Easterbrook was succeeded as CEO by Chris Kempczinski, president of McDonald’s USA. It didn’t stop there.
In August 2020, McDonald’s filed a lawsuit against the former Executive, accusing him of lying about the depth and quantity of his interactions with junior employees.
According to the Company, he had sexual connections with three women in the year before he was sacked.
Easterbrook was also accused of attempting to recoup his over $40 million severance package and of giving stock options worth hundreds of thousands of dollars to a staff member with whom he had an affair.
He was also accused of using his work email account to send sexually explicit images and films to multiple women, including the three purported relationships.
The lawsuit sought to amend the basis for Easterbrook’s dismissal to “for cause,” allowing the Company to reclaim severance money.
Steve Easterbrook Has Been Fined For His Mischief
The SEC fined Steve Easterbrook, the former CEO of McDonald’s, for misleading investors about his dismissal in 2019.
The US Financial Crimes Enforcement Network has demanded a $400,000 penalty, which Easterbrook has agreed to pay without admitting or disputing the allegations.
The Securities and Exchange Commission in the United States claimed on Monday, January 8, that the businessman had made “false and misleading claims to investors.”
The Commission also charged McDonald’s with “omissions” in making public disclosures about Easterbrook’s termination.
It did, however, agree that the Company had “largely cooperated” with their inquiry and would not face any penalties.
McDonald’s stated that the SEC order confirmed that Easterbrook was “accountable for his actions.” The firm said it fired him and sued him after learning his lies.
It also committed to uphold its values and stated that it is proud of its “strong’speak up’ culture,” which encourages employees to report any behavior that falls short of expectations.
Steve Easterbrook, a UK citizen from Watford, Hertfordshire, managed McDonald’s from 2015 to 2019 after overseeing the company’s operations in the United Kingdom.
He was credited with reviving the company’s menus, refurbishing locations, and utilizing higher-quality ingredients. During his time in the US, the value of the Company’s shares more than doubled.
After discovering his consensual connection with one of the staff, the fast food giant initially dismissed him. Further research revealed hidden links with other employees.
Easterbrook was initially paid more than $105 million as part of a severance agreement, which McDonald’s later claimed after learning of his additional affairs and wrongdoing.
The British billionaire repaid the money in cash and stock in December 2021, in one of the greatest clawbacks in corporate America’s history. He also expressed regret for failing to uphold the firm’s ideals.
