Rob Sedgwick Quoted on a McDonald’s Executive Move to Dunkin’ Brands
September 23, 2016 – Morrison Cohen Partner Rob Sedgwick was quoted in the Wall Street Journal in connection with a substantial forfeiture incurred by David Hoffman for failing to sign a proposed non-compete agreement. Mr. Hoffman is leaving McDonald’s Corp, and moving to Dunkin’ Brands Group Inc. The article, “Former McDonald’s Executive to Give Up More Than $6 Million in Move to Dunkin’ Brands”, appeared on September 22, 2016. Rob was quoted as follows:
“It’s quite standard” for companies to seek such noncompete accords from exiting executives, but executives rarely refuse to accept them, said Robert Sedgwick, who heads the executive-pay practice for law firm Morrison Cohen LLP.
Some companies require executives to sign a noncompete agreement upon being hired or in exchange for getting an annual incentive award. But such restrictions often are less onerous than the additional ones demanded as an executive leaves.