On January 26, 2023, the Delaware Court of Chancery issued a decision in In re McDonald's Corp. Stockholder Derivative Litigation,1 clarifying the scope of corporate officers' fiduciary duties.
Delaware Court of Chancery held, for the first time, that the rationale for a duty of oversight Caremark duty owed by directors of Delaware corporations applies equally, if not to a greater degree, to officers. In re McDonald’s Corp. Stockholder Derivative Litigation.
Vice Chancellor J. Travis Laster recently ruled McDonald's former Executive Vice President and Global Chief People Officer David Fairhurst owed duty of oversight comparable to duty articulated by Chancellor Allen in In re Caremark International Inc. Derivative Litigation.
Vice Chancellor Laster Extends This Fiduciary Duty, Previously Recognized only as to Corporate Directors - On January 25, 2023, the Delaware Court of Chancery answered an.
Vice Chancellor J. Travis Laster's recently ruled that McDonald's Corporation's former Executive Vice President and Global Chief People Officer, David Fairhurst, owed a duty of.