McDonald’s Corp. Chief Executive Jim Skinner received a total of $9.7 million in compensation in 2010, including his roughly $42,000 annual salary increase and a 38 percent increase in his annual performance bonus.
Skinner became McDonald’s CEO in 2004, after heading its Europe business and holding several other executive positions at the fast food chain. His base salary was $1.4 million and his performance bonus was $4.5 million last year. The total also includes stock and option awards and other compensation.
McDonald’s has continued to lead the restaurant industry in its recovery from the recession. The chain isn’t reluctant to raise prices on its customers to offset increasing commodity and labor costs. It also has the ability, more so than its competitors, to leverage its size and scale to lock in costs at better-than-market prices.
McDonald’s posted fourth-quarter earnings up 2.1 percent, even as December same-store sales took a hit from severe weather in the U.S. and Europe.
In January and February, McDonald’s sales were driven primarily by Europe and its other international businesses. Overall same-store sales rose 5.3 percent in January and 3.9 percent in February, both results beating analyst estimates, while the U.S. same-store sales increases fell short of expectations.
The fast food giant’s momentum in the U.S. has been driven by its launches and heavy promotions surrounding McCafe specialty coffee drinks and oatmeal. Analysts say investors are waiting to see what the next big push for the chain will be, for it to maintain that drive in the U.S.
McDonald’s is scheduled to report its first quarter earnings on April 21.