McDonald's '09 CEO pay jumped on performance bonus ($17.6 Million)

[OhioChick]

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.

[paulsby]

1. i did quite well on mcd's stock, riding warren buffet's coattails

he liked it, said it was undervalued, and man was he right

[high density]

2. Well at least his company did good

The company I work for gave the CEO a massive raise as the company goes down the toilet.

[aquart]

3. This money should have gone to the shareholders, sorry.

[cbdo2007]

8. bwa ha ha ha ha haha hahah

sorry, that was funny

[thelordofhell]

4. I have no problem with this.......the company is doing well

But maybe they should....oh.....pay their workers better, or improve their product. But then again, they didn't sign a sweet contract like the CEO.

My problem is with CEO's making huge ass bonuses for driving their company into the ground. If your company is losing money, your CEO shouldn't be making more money. But I guess that's why I'm not a board member.

[joeglow3]

5. Good for him

He was involved in the company blowing away forecasted growth. Additionally, it appears a large amount of what he received was tied to stock, which he clearly increased.

Now, if he drove the company into the ground, I would be pissed.

[Vexatious Ape]

6. Wow

All that money they're paying him one would think this guy actually invented the damn hamburger.
What a freaking country.

[OllieLotte]

7. I'm OK with this too. Didn't need a bailout to get the money either.