Illinois companies disclose CEO-to-worker pay difference - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Illinois companies disclose CEO-to-worker pay difference

Illinois companies have begun disclosing pay differences between their chief executive and median employees (Source: KFVS) Illinois companies have begun disclosing pay differences between their chief executive and median employees (Source: KFVS)

CHICAGO (AP) - Illinois companies have begun disclosing pay differences between their chief executive and median employees.

The Chicago Tribune reports that Congress mandated the reporting requirement in the 2010 Dodd-Frank Act. It's meant to give shareholders more information for managing executive compensation.

McDonald's Corp. had one of the largest differences. CEO Steve Easterbrook was paid almost $22 million last year, while the company's median employee received around $7,000 annually.

McDonald's defines a median employee as a part-time hourly restaurant crew member in Poland, where wages are lower than in the U.S. Companies, like McDonald's, with global workforces and that rely on part-time employees have higher pay gaps.

Kraft Heinz had a much smaller difference. CEO Bernardo Hees made almost $4.2 million last year, compared to its median employee pay of about $46,000.

Information from: Chicago Tribune, http://www.chicagotribune.com

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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