Shareholder activists target McDonald's CEO pay in bid for higher worker wages
Shareholder activists on Monday called for the board of McDonald’s to cut the wage of chief executive Donald Thomson, citing poor performance and the massive gap between his wages and the average fast-food worker. The fast-food giant holds its annual meeting on 22 May and will be targeted by protesters calling for a higher wages for workers ...
The protest comes after a Demos report found that the gap between wages of fast-food workers and the CEOs of their companies was the widest in any industry. In 2012, fast-food CEOs earned 1,200 times as much as the average employee, about twice as large as most other sectors. Fast-food workers are the lowest paid in the US with an average hourly wage of $9.09, or less than $19,000 per year for a full-time worker, though most fast-food workers do not get full-time hours.
Similar protests have been launched by shareholders at other restaurant groups including Domino’s and Chipotle. “What we are seeing is an unbalanced approach to human capital,” said
The company faces protests outside the meeting as well as inside when it meets later this month. Among the protesters will alliance of Chicago’s fast food and retail workers, Fight for 15, which is seeking a $15 an hour wage.
http://www.theguardian.com/business/2014/may/05/mcdonalds-ceo-pay-targeted-shareholder-activists
