McDonald's Cut CEO's Paycheck
McDonald's reportedly slashed CEO Jim Skinner's paycheck by about 10 percent for the 2011 fiscal year, AP reports.
The CEO's 2010 $9.7 million salary was cut to $8.8 million, due to a lower performance-based cash bonus. The breakdown of that $8.8 million? A $1.5 million salary, $3.2 million worth of stock and options, and a $3.3 million cash bonus, not to mention $752,000 worth of other perks (using the company aircraft, physical exams, security, etc.).
Of course, next year might be a different story, with all the new Happy Meals, Chicken McBites, and the new "Extra Value Menu." At least Skinner doesn't have to pay as much in taxes this year.