Forget McRib … with a golden parachute like this he can afford a McSteak.
Former McDonald's CEO Steve Easterbrook stands to pocket $ 70 million in shares and options as part of being blown out of the company over a consensus relationship with an employee, CBS News reported Tuesday.
The eight-figure payout would come despite the fast-food giant admitting on Sunday that 52-year-old Easterbrook "violated company policy" and "demonstrated poor judgment" by engaging in an affair with an employee.
On top of that, the former citizen bigwig will receive a $ 700,000 cash reward, or six months' salary.
"It is not possible this is what you would do if the board sent the message that this type of behavior at McDonald's is not acceptable," veteran contract consultant Brian Foley told the outlet.
"It's a snap at wrist. "
The restricted stock and options may rise or fall in value over the next three years, depending on how the company goes. If it hits certain financial goals during that period, Easterbrooks's pot of gold could grow to 85
McDonald's board decided to label Easterbrook's forced exit as "for no reason" ̵
If he had been fired because of for "cause", he would not have redeemed the consideration or restricted stock and options, the sale said.
The company's executive policy of policy defines a for "cause" termination as when it is: "a material breach of McDonald's standards for business or other employment policies. "
Managers are prohibited from entering into romantic relationships with employees under company policy.
McDonald's declined to comment on CBS News.