McDonald's directors OK raise for head of struggling Asia unit
McDonald's Corp said on Wednesday its board's compensation committee approved a 10.7 percent salary…
McDonald's Corp said on Wednesday its board's compensation committee approved a 10.7 percent salary increase for David Hoffmann, president of the fast-food chain's Asia/Pacific, Middle East and Africa unit, which has been battered by weakness in China and Japan.
The raise, which will go into effect on Sept. 1, was approved by the company's directors on Aug. 21, McDonald's said in a regulatory filing.
Hoffmann was appointed president of McDonald's APMEA division on July 1, 2012.
The region's results over the last two years have been disappointing because of an avian flu outbreak and food safety scandals that have pummeled sales in China. The company is also struggling in post-tsunami Japan.
The raise, which will go into effect on Sept. 1, was approved by the company's directors on Aug. 21, McDonald's said in a regulatory filing.
Hoffmann was appointed president of McDonald's APMEA division on July 1, 2012.
The region's results over the last two years have been disappointing because of an avian flu outbreak and food safety scandals that have pummeled sales in China. The company is also struggling in post-tsunami Japan.