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McDonald's CEO received compensation worth $15.4 million

CANDICE CHOI
FILE - In this 2014 file photo provided by McDonald's, company President and CEO Steve Easterbrook poses for a photo, near Chicago. Easterbrook received compensation of $15.4 million in 2016 as he worked to refresh the company’s image and cut costs amid growing competition and changing tastes. (McDonald's via AP, File)

NEW YORK (AP) — McDonald's CEO Steve Easterbrook received compensation of $15.4 million last year as he worked to refresh the company's image and cut costs amid growing competition and changing tastes.

Easterbrook's pay package included a salary of $1.3 million, stock and options worth $9 million, and incentive pay of $4.6 million. He also got perks such as contributions to a retirement plan and a car allowance. Easterbrook became chief executive in March 2015. For that year, his pay package was $7.9 million.

McDonald's Corp. has announced a series of changes under Easterbrook, including the rollout of an all-day breakfast menu in the U.S. and plans to use fresh beef patties in Quarter Pounders. Customer visits to established U.S. locations fell last year, though people on average spent more per visit.