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April 14, 2012 / 8:40 AM

McCEO Skinner's pay drops before retiring

Outgoing McDonald's Chief Executive Officer Jim Skinner speaks to media and employees at a new McDonald's on the Olympic Green in Beijing on August 7, 2008. (UPI File Photo/Terry Schmitt)

Outgoing McDonald's Chief Executive Officer Jim Skinner speaks to media and employees at a new McDonald's on the Olympic Green in Beijing on August 7, 2008. (UPI File Photo/Terry Schmitt) | License Photo

OAK BROOK, Ill., April 14 (UPI) -- Pay for McDonald's retiring Chief Executive Officer Jim Skinner slipped in 2011 compared to 2010, the company said in a regulatory filing.

Skinner, who announced his retirement in March, was paid $8.8 million in salary and stock awards -- including stock options -- for 2011, a 10 percent drop from his 2010 pay of $9.7 million, The Chicago Tribune reported Saturday.

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As he leaves the company, Skinner will be paid an additional $10 million in cash at the end of the year, McDonald's said.

Skinner is leaving June 30 and will be replaced by McDonald's Chief Operating Officer Don Thompson.

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