McDonald's Pays CEO Easterbrook $7.9 Million in 2015 -- Update

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 [e-mail]

(END) Dow Jones Newswires

April 15, 2016 12:44 ET (16:44 GMT)

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