The U.S. Securities and Exchange Commission (SEC) on Monday charged former McDonald's Corp Chief Executive Stephen Easterbrook with making false and misleading statements to investors about the circumstances of his 2019 termination.
McDonald's fired Easterbrook in November 2019 for exercising "poor judgment" by engaging in a relationship with a McDonald's employee, the SEC said.
"When corporate officers corrupt internal processes to manage their personal reputations or line their own pockets, they breach their fundamental duties to shareholders," the SEC's enforcement director Gurbir Grewal said in a statement.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.
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.
South Africa Latest News, South Africa 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 »