Ex-McDonald’s CEO to Pay SEC Fine Over Misrepresenting Exit (1)

Former McDonald’s Corp. Chief Executive Officer Stephen Easterbrook agreed to pay $400,000 over allegations from US regulators that he failed to disclose improper relationships with employees at the company.

The Securities and Exchange Commission said on Monday that Easterbrook didn’t fully disclose violations of company policy leading up to his termination in 2019. The terms of his departure let him maintain “substantial equity compensation,” the agency said in a statement. Lawyers for Easterbrook, who didn’t admit or deny the SEC’s allegations as part of the settlement, didn’t immediately respond to an emailed request for comment.

Steve Easterbrook

Photographer: Joshua Lott/Bloomberg

The penalty ...