McDonald’s Steve Easterbrook is just the youngest CEO who reportedly failed to see the importance of ethics and has permanently damaged its reputation. These are the lessons businesses can learn from each of them.
10 min read
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McDonald’s ousted its former CEO Steve Easterbrook last November for violating company policies by entering into a close relationship with an employee. The board accused Easterbrook of exhibiting “poor judgment” at the time, but it turned out that the story had a lot more to offer. Based on an anonymous notification received by the Board in July, MC Donalds It is now alleged that in addition to having numerous employee relationships, Easterbrook lied about them, destroyed evidence and possibly committed fraud. As a result, the company is now suing its former CEO for $ 42 million in wages and benefits, the amount it originally agreed to pay him in the form of a severance package.
From the measures Easterbrook allegedly took to hide his past relationships, it can be seen that the executive clearly understood that he could get into trouble. So the moral of this particular story isn’t too deep: if it’s something you need to cover up, just don’t do it in the first place (i.e., acknowledge the importance of ethics). But Easterbrook is far from the first to fall off the corporate ladder. Here are 11 more disgraced CEOs, plus what we can learn from their rapid decline.