Seat Empty After Former McDonald’s CEO Leaves Walmart Board

You probably heard by now that Steve Easterbrook has resigned from Walmart’s board in the wake of being fired as CEO of McDonald’s Corp. for having a consensual relationship with a coworker.

But did you know how much money Easterbrook made from being on the Bentonville retailer’s board?

For Walmart’s fiscal 2019 that ended Jan. 31, he received $58,766 plus stock awards valued at $174,970 for a total compensation package valued at $233,736.

And as of Sept. 30, Easterbrook held 5,086 shares of Walmart stock, valued at just over $600,000.

But that’s small potatoes compared with the exit package he is getting from McDonald’s. NPR reported that the package is nearly $42 million.

Easterbrook joined Walmart’s board in 2018 and served on its compensation and management development and strategic planning and finance committees.

“Easterbrook’s decision to resign was not due to any disagreement with the Company on any matter relating to its operations, policies or practices,” Walmart said in a filing with the U.S. Securities & Exchange Commission.

On Thursday morning, Walmart said it has “nothing to report at this time” in connection with filling Easterbrook’s position on the board, which now has 11 members.