Stephen Easterbrook, a former CEO of McDonald’s, has been fined $400,000 by the Securities and Exchange Commission for making misleading and false statements to investors.
The statements related to his firing four years ago over a relationship with an employee that led to his termination.
The SEC also banned Easterbrook from serving as an officer or director of a company for five years, according to a New York Post report.
“When corporate officers corrupt internal processes to manage their personal reputations or line their own pockets, they breach their fundamental duties to shareholders,” SEC enforcement director Gurbir Grewal said in a statement.
Easterbrook did not admit or deny the SEC’s findings and his lawyer did not respond to the Post’s request for a comment.
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