McDonald’s board members sued over ‘lavish’ $56 million severance for fired CEO Easterbrook
By Robert Channick, Chicago Tribune
Apr 28, 2021
Nine members of McDonald’s board of directors have been hit with a shareholder lawsuit over $56 million in severance and compensation paid to former CEO Steve Easterbrook, who was fired in 2019 for a consensual relationship with an employee.
The lawsuit, filed last week in Delaware Chancery Court on behalf of employee benefit funds for Teamsters Local 237 in New York, alleges the board’s failure to fully investigate Easterbrook’s misconduct allowed the “windfall” severance package that McDonald’s is now seeking to recover.
“The board permitted him to walk away with a lavish severance package worth tens of millions of dollars,” the Teamsters allege in the lawsuit...
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