McDonald's is going to pay former CEO Don Thompson 3 times as much as his replacement

Former McDonald’s CEO Don Thompson abruptly retired from the brand in January amid accusations that his strategy was hurting US business.

But McDonald’s will pay Thompson $US3 million for “consulting services,” according to a report by CNBC. His replacement, Steve Easterbrook, will earn a salary of $US1.1 million.

Thompson retired on March 1 after 25 years with the fast-food chain.

He spent much of his tenure trying to revive sales in the US, according to Reuters. The fast food industry has been hit by consumers moving to fast-casual options like Chipotle.

Many analysts criticised Thompson for being slow to implement change, even as sales suffered.

Easterbrook was previously the senior executive brand president and chief brand officer.

McDonald’s has been losing market share in the US and performance at its restaurants declined for most of Thompson’s tenure.

Thompson, 51, joined McDonald’s as an engineer in 1990. He earned $US9.5 million in 2013, according to Bloomberg.

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