Bloomberg Law
Nov. 6, 2019, 11:31 AM

McDonald’s CEO Ouster Puts Pay, Severance Policies in Spotlight

Warren Rojas
Warren Rojas
Senior Reporter

Headline-grabbing changes in another company’s C-suite present the perfect opportunity for corporate boards to re-examine their executive compensation agreements, pay consultants said.

That’s particularly true when an exiting executive heads out the door with a lavish severance package while the rest of the organization is reeling from bad PR.

Steve Easterbrook provided the latest teachable moment by pocketing $675,000 in severance and $37 million in pending stock awards after being removed as CEO of McDonald’s Corp. Board members said they cut ties with Easterbrook because he had “demonstrated poor judgment” by engaging in a consensual relationship with a colleague.

Andrew ...

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