SEC fines ex-McDonald's CEO for misrepresenting his termination

• Easterbrook also agreed to a five-year ban from serving as an officer or director.
• A representative for Easterbrook did not immediately respond to Axios' request for comment.

Catch up quick: Easterbrook was fired for having an "inappropriate personal relationship with a McDonald’s employee in violation of company policy," per the SEC.

What they're saying: "When corporate officers corrupt internal processes to manage their personal reputations or line their own pockets, they breach their fundamental duties to shareholders, who are entitled to transparency and fair dealing from executives," said Gurbir S. Grewal, the director of the SEC's Division of Enforcement.

• "By allegedly concealing the extent of his misconduct during the company’s internal investigation, Easterbrook broke that trust with — and ultimately misled — shareholders," Grewal said.