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McDonald’s Ex-CEO Should Have Paid More in Claw-Back Settlement, Funds Say

  • Investors challenge deal to reclaim $105 million in CEO’s pay
  • Easterbrook ousted in 2019 over dalliances with subordinates
Steve Easterbrook
Steve EasterbrookPhotographer: Joshua Lott/Bloomberg

Some McDonald’s Corp. investors told a judge the company didn’t get nearly enough money from former Chief Executive Officer Steve Easterbrook when he agreed to return $105 million to settle claims he was sexually involved with subordinates.

Three pension funds tied to the Teamsters’ union holding McDonald’s shares urged Delaware Chancery Court Judge Travis Laster to allow them to proceed with a lawsuit, which seeks financial penalties on directors for allegedly failing to properly oversee Easterbrook. Laster said he’d rule later.