McDonald's Pays CEO Easterbrook $7.9 Million in 2015 -- Update
16 April 2016 - 2:59AM
Dow Jones News
By Austen Hufford
McDonald's Corp. on Friday said its Chief Executive Steve
Easterbrook, who took the helm of the fast-food giant in March
2015, received $7.9 million in total compensation last year.
Mr. Easterbrook, who was previously the company's chief brand
officer, took over the position from Don Thompson. Mr. Thompson
received $7.3 million in total compensation in 2014, according to a
regulatory filing.
After decades as the leader of a small group of fast-food icons,
McDonald's has faced more competition from burger upstarts like
Five Guys and Shake Shack Inc.
Last year, McDonald's closed more of its U.S. restaurants than
it opened for the first time in its history, for a net loss of
about 100 restaurants.
Mr. Easterbrook has worked to reinvigorate the fast-food giant
by trimming its menu and launching all-day breakfast.
In January, McDonald's posted its best U.S. quarterly sales in
nearly four years, a sign the rebuilding efforts were gaining
traction. Sales at McDonald's U.S. restaurants open at least 13
months jumped 5.7% in the fourth quarter. That was the best
same-store sales results in the U.S. in 15 quarters.
Mr. Easterbrook had an annual base salary of $1.1 million in
2015. He received $1.03 million of salary last year, as he started
in March. He received $5 million in stocks and options.
In February, McDonald's approved increasing Mr. Easterbrook's
base pay to $1.3 million starting in March. His annual target
incentive was set at 175% of his salary, or nearly $3 million,
promising a bigger reward if the company's operating earnings
improve for 2016.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
April 15, 2016 12:44 ET (16:44 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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