McD's dead execs: "I'm lovin' it!"
From the Golden Arches in the sky, McDonald’s former CEOs Charlie Bell Jim Cantalupo cash in .
What do you say behind this? (CNN):
McDonald’s Corp. said on Wednesday it paid more than $5 million in bonuses to the estates of former Chief Executives Jim Cantalupo and Charlie Bell following their deaths.
Cantalupo, who died suddenly of a heart attack last April, received a bonus of $1.8 million in recognition of his “outstanding service,” the company said in regulatory filing. McDonald’s said the bonus was similar to one Cantalupo would have received had he remained employed throughout 2004. Cantalupo’s estate also received a prorated payout of $791,000 as part of the company’s long-term incentive plan.
Bell, Cantalupo’s successor, received a bonus of $3.2 million following his death in January from colon cancer. He stepped down as CEO in November due to his illness.