McDonald's '09 CEO pay jumped on performance bonus ($17.6 Million) [View All]

Source: Reuters

9 Apr 2010, 2152 hrs IST,REUTERS

ANGELES: McDonald's Corp Chief Executive Jim Skinner received 2009 compensation of $17.6 million, more than double his 2007 pay, largely fueled by a performance-related bonus paid out every three years, the company said on Friday.

McDonald's shares started 2007 trading at $43.65 and closed out 2009 at $62.44, a gain of 43 percent. In 2009 Skinner received a performance-related bonus of $11.5 million. That bonus included a long-term payout of $8.3 million which accrued from 2007 through 2009, when Skinner became eligible to receive it.

Skinner received performance-related rewards of $4.6 million in 2008 and $3.1 million 2007. The world's largest fast-food chain posted compound annual operating income growth of 12.9 percent from 2007 through 2009. That topped the company's target, which called for growth of 7.7 percent during the three-year period, according to a regulatory filing.

Skinner earned $13.6 million in 2008 -when he received more share and option rewards than in 2007 and 2009- and $7.9 million in 2007. His base salary during the period barely budged to $1.4 million in 2009 from $1.3 million in 2007. Executive compensation has come under fire after U.S. financial institutions that were bailed out by taxpayers lavished generous pay on their executives. High unemployment and falling middle-class wages has helped to fuel the outrage on Main Street.

Read more: http://economictimes.indiatimes.com/news/international-business/McDonalds-09-CEO-pay-jumped-on-performance-bonus/articleshow/5779394.cms

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Wow.