(Recasts to add context, share price)
May 22 McDonald's Corp shareholders on
Thursday overwhelmingly approved an advisory measure on
executive pay at the fast-food chain, where Chief Executive
Officer Don Thompson took home total compensation of $9.5
million in 2013.
Nearly 94 percent of shares were voted in favor of the
measure, the company said at its annual meeting in Oak Brook,
Illinois. With their non-binding vote, shareholders approved how
much compensation McDonald's executives received as well as the
formulas used to calculate that pay.
The vote came as the chain wrestles with market share losses
to U.S. rivals, profit-squeezing spikes in beef costs, criticism
from some parents and public health experts over its food and
advertising, and noisy protests over the low pay of hourly
Chipotle shareholders offered a scant 23 percent support for
a similar advisory pay proposal on May 15. Steve Ells and Monty
Moran, co-CEOs of the popular burrito chain, received total 2013
compensation of $25.1 million and $24.4 million, respectively.
Shares in McDonald's were roughly unchanged at $102.53 in
morning trading on the New York Stock Exchange.
(Reporting by Lisa Baertlein in Los Angeles; Editing by Jeffrey
Benkoe and Tom Brown)