McDonald’s investors back executive pay plan despite protests

McDonald’s investors have backed an executive pay plan at the company’s annual meeting despite protests.

Nearly 94% of shareholders voted in favor of the plan, which determines chief executive Don Thompson’s pay as well as a formula for paying top management.

Last year, Don Thompson was paid a total of $9.5 million.

The vote came a day after more than 100 demonstrators seeking better pay for McDonald’s workers were arrested.

Addressing the protests, Don Thompson reportedly told investors at the meeting: “We respect the fact that they want to challenge us relative to wages.

“We pay fair and competitive wages and we provide opportunity, and we provide job opportunities and training for those entering the workforce.”

In addition to protests by workers and labor organizers, who are demanding the chain raise the minimum wage paid to workers to $15 from the US federal minimum of $7.25, McDonald’s has seen falling sales in the US.

McDonald’s has also been hit by the increasing cost of beef, and criticism from public health experts over its advertising.