Former McDonald’s CEO Stephen Easterbrook has $150 million of compensation clawed back after allegations that he lied and committed fraud during an internal company probe.
During the investigation the company found that Easterbrook had a consensual relationship with an employee resulting in his dismissal in November 2019. According to a company probe Easterbrook lied to the company, destroying information regarding three additional sexual relationships he had with employees before he was dismissed.
“During my tenure as CEO, I failed at times to uphold McDonald’s values and fulfill certain of my responsibilities as a leader of the company,” said in a statement. “I apologize to my former co-workers, the Board, and the company’s franchisees and suppliers for doing so.”
This is not the first brush with controversy of McDonald’s CEOs. Current CEO Chris Kempczinski also recently had to apologize after being perceived as blaming the parents of children who were accidently shot earlier this year in Chicago.
McDonald’s stock reached the $266 mark today, its highest valuation in the company’s history.