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Shareholders reelect McDonald’s directors, Icahn loses board battle -Breaking


© Reuters. FILE PHOTO – McDonald’s Golden Arches can be seen in Times Square, New York on January 29, 2015. REUTERS/Shannon Stapleton/File Photo


By Svea Herbst-Bayliss

BOSTON, (Reuters) – Shareholders have reelected McDonald’s Corp’s (NYSE:)’s board directors. This brings an end to a battle between billionaire investor Carl Icahn and the shareholders. Icahn had hoped to gain two seats on the board, while McDonald’s Corp wanted to shine a light on his animal welfare campaign.

The preliminary tallies indicated that all 12 directors at McDonald’s were supported by shareholders and that Icahn’s nominations garnered approximately 1%, according to the company.

“McDonald’s shareholders value a Board of Directors with a breadth of experiences to advise the Brand on the multitude of issues that can impact the business on a daily basis,” board chairman Enrique Hernandez, Jr. said in a statement.

Icahn is a well-known leader in pushing companies that are poor to perform. Icahn owns about $50,000 worth of McDonald’s stock. Two candidates were nominated to press McDonald’s to fulfill its decade-old commitment to buy pork only from those who house it in crates.

He stated that confining pregnant pigs into crates is cruel, and he sought to put more light on this practice.

McDonald’s stated on Thursday that they are committed to being a leader in environmental, social, and governance (ESG), initiatives including animal welfare.

Icahn tried to appeal to large index funds which pay greater attention to ESG matters to back him to win his bid for board seat. But preliminary numbers showed that BlackRock supported McDonald’s (NYSE:).

Icahn’s representative did not respond to my request.