McDonald’s director targeted by Icahn set to leave board
This news article was first published on Insightia One’s Activism module. For more information about the platform, please click here.
McDonald’s has announced a series of board changes, including the retirement of a director who was targeted by Carl Icahn in his first ESG campaign earlier this year.
McDonald’s said Monday that Sheila Penrose will leave its board on September 30 after 15 years in the role.
The company also announced the appointment of three new directors: Marriott International CEO Tony Capuano, Johnson & Johnson Worldwide Chairman Jennifer Taubert, and Salesforce Chief Financial Officer Amy Weaver. The new appointments are effective October 1.
Penrose led the company’s board sustainability and corporate responsibility committee and was targeted for removal by Icahn, who slammed the fast-food giant for buying pork from companies that confine pregnant pigs to small gestation crates. Icahn nominated two candidates and sought to remove Penrose and Richard Lenny.
McDonald’s won the proxy fight, with all 12 directors reelected to the board. The company was backed by two influential proxy voting advisers in the contest.