NEW YORK (AP) — McDonald's Corp. trimmed its CEO's pay package by 10 percent to $8.8 million last year as the world's biggest hamburger chain continued to post sales gains amid economic uncertainty and rising costs around the globe.
The compensation for top executive Jim Skinner compared with $9.7 million the previous year, according to an Associated Press analysis of a regulatory filing.
The drop was the result of Skinner's performance-based cash bonus, which fell to $3.3 million, down 27 percent from $4.5 million. McDonald's determines bonuses as a percentage of the executive's salary.
The exact percentage is varies depending on a mix of metrics, including the corporate and individual performance metrics. Skinner's bonus fell last year as a result of a lower overall corporate metric.
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