May 26, 2022
McDonald's defeats Carl Icahn in vote over pigs
Billionaire Carl Icahn, who had hoped to shake up the McDonald's board to improve its treatment of pregnant pigs, has been defeated in a vote. Only 1% of shareholders voted in favour of the nominees put forward by Mr Icahn, an investor in the firm. McDonald's had fought Mr Icahn's demands, saying they were unreasonable. Mr Icahn purchased about $50,000 worth of shares, and called on the company to meet its 2012 pledge to stop ordering pork from suppliers putting pregnant pigs in small crates, among other changes. "Mr Icahn is using a narrow issue and one that we have demonstrated industry-leading progress on - McDonald's 2012 pork commitment - as a reason to change the way McDonald's sources pork in the US and reduce the number of meat-based items on our menu," the firm said.
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