Forget about knowing, the question is; who doesn’t eat at McDonald’s? Even the President of USA Donald Trump loves to eat at McDonald’s. Such is the power and so ubiquitous is the golden arches of McDonald’s. Steve Easterbrook is the CEO of McDonald’s and has been in this position since 2015. Before becoming the CEO, he was the Chief Brand Officer of McDonald’s and also its former Head in the UK and Northern Europe. His pay package is what business magazines and financial newspapers have been discussing. His salary at McDonald’s is setting up the new benchmark for CEO compensation in the business world.
Like, everyone, you must be eager to know more about Steve Easterbrook and his total Net Worth in 2018. Read on.
Steve Easterbrook Early Life
Steve Easterbrook was born as Stephen James Easterbrook, in August 1967 in the United Kingdom. He grew up in Watford and had his early education at the Watford Grammar School for Boys.
He was fond of McDonald’s burgers since he was all of 11 years as a child, and took he train to Harrow once in a while to try the Big Macs on offer.
He went on to study further and enrolled for natural sciences at the St Chad’s College, Durham University. Here he indulged in playing cricket, and one of his fellow student cricketers was Nasser Hussain, who later became the captain of the England cricket test team.
Easterbrook is married and has three children. He has relocated his family from the UK and lived with his family in the Illinois State of USA. His family is a frequent visitor to McDonald’s. Easterbrook continues to be a fan of Watford FC, the professional football club based in Watford, Hertfordshire, England.
Steve Easterbrook Career, Awards & Achievement
Upon getting his degree from the university, Easterbrook worked as a trainee accountant with Price Waterhouse.
In 1993, Easterbrook worked the first time for McDonald’s. He joined at London as a manager in the finance department.
He spent the next five years on streamlining the UK operations. He attended the 18 months training at Hamburger University in Chicago. Upon his return to England, he took several initiatives to propel the company towards higher profitability in the UK. Within months Easterbrook was given responsibility for other northern countries.
In 2006, he became the Chief Executive of McDonald’s business in the UK. In 2010 he became president of McDonald’s Europe.
In 2011, Easterbrook left McDonald’s as he felt that he was denied the opportunity and responsibility for more global responsibility.
He switched job and joined PizzaExpress. He became the CEO. He once again changed job to become the CEO of Wagamama. Both these companies top the list of chains of casual and fast-food dining outlets in the UK.
In 2013, Easterbrook made a homecoming and joined McDonald’s again. He was later promoted s the Chief Branding Officer in the UK and also became the Head of UK operations as he looked after the whole of northern Europe. He was later moved to Chicago for a more global role.
On 1 March 2015, Easterbrook took over as the CEO of MacDonald’s after the earlier CEO Don Thompson stepped down on 28 January 2015. Easterbrook was offered a base salary of $1.1m and an annual bonus based on performance, up to 160% of his base salary.
For 2016, Easterbrook’s total compensation almost doubled to $15.4 million.
Awards & Achievement
Steve Easterbrook has not received any widely known awards, but his successful initiatives in the growth of MacDonald’s are a subject of many case studies in top B-school like Harvard. His success story has also been featured in the media. He has been in the news in Business and Finance newspapers and journals and had an article written on him.
Net worth of Steve Easterbrook
When Easterbrook joined as CEO in 2015, he got a base salary of $1.1 million and an annual bonus of 160% on base salary. For 2016, Easterbrook’s total compensation was doubled to $15.4 million which was disclosed in a Securities and Exchange Commission filing; and this is authentic information.
He received a base salary of about $1.3 million last year, and the value of the stocks awarded to him was pegged at $5.1 million, up from $2.9 million in 2015. The value of his ESOP stocks jumped to $3.9 million from $2.1 million in 2015. His performance-based bonus increased to $4.6 million, from $1.5 million in 2015.
The value of his perks was raised to $523,665 from $341,301 in 2015. He received several perks including car allowance, security, life insurance and besides many others, also the use of company jet even for personal trips.
Adding up all these, including his past accumulations and investments, it can be safely ascertained that the net worth of Steve Easterbrook comes to around $40 million.
Steve Easterbrook is an iconic figure in the world of business and finance. He has been praised as a hot-shot business manager who turned around the sagging fortunes of an iconic brand like MacDonald’s. He brought the company into reckoning once again and was amply rewarded by the Company. Easterbrook is an inspiration to the general public, Business school students, and aspiring managers on how to rebuild the business, even in such a competitive industry as Quick-service Restaurants (QSR).