McDonald's New CEO to Receive 26% Raise
It was revealed on Monday that Don Thompson, the man with the unenviable task of filling Jim Skinner's shows when he retires at the end of June, will get a 26% pay rise.
In truth, this news should come as a surprise to no one. Thompson becomes the figurehead for the world's biggest fast-food chain, and one of the biggest companies in the world period. The blame stops with him now, and with that comes a whole heap of new pressure.
With that pressure, not to mention the inevitable extra workload, comes a hefty pay rise. Surely we would expect nothing less for the CEO of McDonald's.
According to Chicago Tribune, Thompson will receive a 26% increase on his base pay, taking his salary to $1.1 million. His annual bonus is capped at 150% of his salary, so it could be as much as $1.65 million. He also has the potential to earn up to $8 million more as part of a cash bonus program.
Thompson will retain his title of President. Skinner and Thompson will together choose the next chief operating officer in the next few months.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.