By Josh Beckerman
Former McDonald's Corp. Chief Executive Don Thompson will
receive $3 million under a 12-month consulting agreement.
Mr. Thompson, who retired effective Sunday, will receive two
$1.5 million payments, one in September and another in March, the
company said in a filing Tuesday.
The fast-food chain, struggling amid declining sales and menu
changes, said on Jan. 28 that Mr. Thompson would step down. The
company's new CEO is Steve Easterbrook, who was previously chief
brand officer.
Mr. Easterbrook's base salary has been increased 69.2% to $1.1
million and his target annual incentive opportunity under the
Target Incentive Plan is rising from 100% of base salary to 160% of
base salary.
Write to Josh Beckerman at josh.beckerman@wsj.com
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