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McDonald’s executive pay plan approved



Despite protests, McDonald’s shareholders have granted approval of an executive pay plan at the annual meeting.
Almost 94% of shareholders voted for the plan, which decides on the chief executive, Don Thompson’s salary, as well as a suitable formula for the payment of top management.
Mr. Thompson was paid a total of $9.5m or £5.6m last year.
The positive vote was reached one day after in excess of 100 demonstrators asking for better pay for McDonald’s workers were placed under arrest, BBC says.
Mr Thompson told the investors present at the meeting that he respected the fact that the protestors wanted to challenge them regarding wages. He said that fair and competitive wages are paid, as well as the provision of training and opportunities for new entrants into the workforce.
In addition to the protests by labour organisers and workers, who are demanding a minimum wage of $15, instead of the US federal minimum wage of $7.25, McDonald’s has also been experiencing a decline in sales in the US.

Along with these problems, it has also been hit hard by the increase in cost of beef, along with criticism regarding its advertising, from public health experts.

Source: www.menu-info.com

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