Fired McDonald’s CEO’s Pay Faces Protest Vote from Pension Funds

A group of union pension funds is urging McDonald’s Corp. investors to join them in protesting a multi-million dollar payout to former Chief Executive Officer Stephen Easterbrook, who was fired late last year over a relationship with a subordinate.

Investors should vote against Easterbrook’s pay package and two directors who oversaw it, board chairman Enrique Hernandez, Jr. and compensation committee chair Richard Lenny, CtW Investment Group said in a filing Thursday.

The McDonald’s board voted to fire Easterbrook in November because he had a relationship with an employee, which was consensual but violated company policy. The ousted CEO was allowed ...