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April 12, 2013
McDonald's give former and new CEOs big pay bumps
April 12, 2013 01:26 PM EST
NEW YORK — McDonald's Corp. more than tripled the pay packages last year for its new CEO Don Thompson and the man he replaced, Jim Skinner.
The pay increases from the world's biggest hamburger chain came during a challenging time for the industry.
McDonald's, based in Oak Brook, Ill., gave Thompson a package worth $13.8 million, up from the $4.1 million he received in 2011, according to a regulatory filing Friday.
Thompson had been with McDonald's for more than 20 years and took over in July.
Skinner's pay package went up to $27.7 million from $8.8 million the year before, reflecting a $10.2 million payment as part of his retirement under his contract agreement.
The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.
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