NEW YORK (AP) — McDonald's Corp. gave outgoing CEO Jim Skinner a pay package worth $8.8 million last year, a 10 percent drop from the previous year.
The reduction was largely the result of a lower incentive bonus. A regulatory filing made with the Securities and Exchange Commission shows the world's biggest hamburger chain gave its top executive a salary of $1.5 million, stock and option awards worth $3.2 million and an incentive bonus of $3.3 million.
All other compensation came to $752,024 and covered costs for the use of the company aircraft and contributions to retirement plans.
Skinner is set to retire this summer after 41 years with the company. The fast food giant's president Don Thompson will take over and become the company's first African American CEO.