PORTLAND, Ore. (AP) — The CEO of McDonald’s Corp. received a pay package worth nearly $9.7 million during fiscal 2010.
That’s down 45 percent from the year before, but the drop is largely due to the timing of long-term bonuses that McDonald’s executives receive only every three years.
The nation’s largest hamburger chain increased CEO Jim Skinner’s salary 3 percent to $1.4 million and it raised his annual performance bonus by 38 percent. But Skinner got an $8.3 million long-term bonus in 2009 and isn’t up for another long-term bonus until 2012.
Skinner’s perks and stock options and awards also fell but by a much smaller amount.
The Associated Press formula is designed to isolate the value the company places on executives’ total compensation and AP’s totals sometimes vary from what’s reported to regulators.
