New McDonald's CEO to get 26% raise

[n2doc]

By Emily Bryson York
Tribune reporter
10:28 a.m. CDT, March 26, 2012

McDonald's Corp. released additional details regarding its CEO transition in a filing with the Securities and Exchange Commission Monday. The Oak Brook-based company's longtime CEO Jim Skinner is retiring at the end of June, and president and chief operating officer Don Thompson will assume the role.

As part of the promotion, Thompson receives a 26 percent increase in base pay, to $1.1 million. His annual bonus, capped at 150 percent of salary, could be as much as $1.65 million. He also can receive up to $8 million more as part of a cash bonus program.

Thompson will retain the title of president. In an interview last week, Skinner said that he and Thompson will choose the next chief operating officer in the coming months. As part of Skinner's retirement, he will relinquish his seat on the company's board.

http://www.chicagotribune.com/business/breaking/chi-new-mcdonalds-ceo-to-get-26-raise-20120326,0,4022766.story

[KansDem]

1. See what happens when you stop serving pink slime?

[charlie and algernon]

12. soft serve strawberry ice cream, yum!

oh wait...

[Initech]

2. And how much of a pay raise is the average McDonald's employee going to get?

[SammyWinstonJack]

4. He got their raises for the foreseeable future.

[Initech]

6. I wonder what it's going to take before we start calling BS on executive gross salaries like this?

It's just theft at this point.

[tech3149]

3. I used to live on McD's because I did field servive

I don't think I've been in one in more than a decade I have to say some days I still get the urge for a Qp/w cheese but I can cook a better burger at home. If the company wants to and will allow paying executives for running a middling company and go broke in the process, have at it. I won't cry

[RZM]

5. Sounds like they supersized his salary n/t

[lpbk2713]

7. Ya want fries with that?

[hughee99]

8. Shit, the CEO of one of the biggest, most recongnizable companies in the world

can only make, AT MOST, $10 million? Yes, it's a lot of money, but nothing compared to what other companies that don't have nearly the same profits are making.

If I understand correctly, this is about what Keith Olbermann makes his for Current TV show "Countdown with Keith Olbermann" which airs 1 hour a night 5 days a week (and is repeated several more times) on a channel that many Americans don't even get.

[craigmatic]

9. That should go to the workers but then again $1million isn't as much as it used to be.

[smirkymonkey]

10. I'm sure it's because he deserves it.

[Romulox]

11. Don Thompson is McDonald's first African American CEO.

If you've ever heard him speak, he's an extremely talented (young? wiki doesn't say his age) man.

[Romulox]

13. Nobody wants to talk about McDonald's first AA CEO?

[Aerows]

14. I will

It's great that he's their first AA CEO. Despite the screaming of folks who think McDonald's is the scourge of the world, I will continue to enjoy a Big Mac or a Filet-O-Fish sandwich at their dining facilities I've been known to eat from :gasp: Taco Bell as well.

[dmallind]

15. Big promotions generally equal big raises. This is not an in-job raise.

For the size and profitability of the company his pay is fairly moderate too.

[HopeHoops]

16. Poor dude.

[aikoaiko]

17. I can't really say that the salary seems out of line for the position.

[Taverner]

18. Although $1.1 Million is WAAAAY too much, he did deserve 'a raise'

Shouldn't 200K per annum be enough for a CEO? But that's a different argument.

McDonalds does deserve credit for a few things enacted under Thompson however:

- Getting rid of pink slime (the market forced him to, but think about how many companies DID NOT respond to market demands)

- Making the food somewhat healthier, and adding healthier options to the menu (again, the market, but they saw this coming before it hit the roof)

- Axing the "Super Size" items off the menu

Now - there is a lot of bad things the Golden Arches has done, and still is doing

However, responding the right way to public pressure is a step in the right direction