Burger King gives CEO pay hike amid revitalization
By The Associated Press
Published: Wednesday, April 3, 2013, 12:01 a.m.
Burger King CEO Bernardo Hees got a big pay hike last year as the world's second-largest hamburger chain revamped its menu and began trading publicly again.
The Miami-based fast-food chain gave Hees a pay package worth $6.5 million, according to a filing with the Securities and Exchange Commission. That's up 61 percent from 2011. Hees is also a partner at 3G Capital, the investment firm that bought Burger King and took it private in 2010.
Since taking over Burger King, 3G has applied its aggressive cost-cutting strategy that included slashing jobs at its headquarters and shifting to an entirely franchised model. Burger King, which has more than 12,900 locations worldwide, has been working to expand its presence in emerging markets.
such as China and Russia.
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