Shareholders re-elect McDonald’s directors, Icahn loses board battle
BOSTON, May 26 (Reuters) – Shareholders re-elected all of McDonald’s Corp MCD.N‘s, the company announced on Thursday, ending a boardroom battle with billionaire investor Carl Icahn seeking two board seats and spotlighting his animal welfare campaign. .
Preliminary tallies showed shareholders backed all 12 McDonald’s directors and Icahn’s two nominees received about 1% of the vote, the company said.
“McDonald’s shareholders value a Board of Directors with broad experience advising the brand on the myriad of issues that can impact the business day-to-day,” said Board Chairman Enrique Hernandez, Jr. .in a press release.
Icahn, who has made a career of pushing underperforming companies to improve, owns about $50,000 of McDonald’s stock and has named two candidates to push the company to fulfill its decade-old promise to stop buying food. pork by the end of this year from suppliers who house the animals in cages.
He said confining pigs in crates while pregnant is inhumane and sought to shine a light on the practice more widely.
McDonald’s said Thursday it is committed to remaining a leader in environmental, social and governance (ESG) initiatives, including animal welfare.
Icahn had appealed to large index funds often more attentive to ESG issues to support him in his bid to win the board seatsbut preliminary counts showed that BlackRock BLK.N supported McDonalds.
A representative for Icahn had no comment.