Carl Icahn launches proxy fight with McDonald’s over treatment of pigs
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Delivering Alpha, New York: September 13, 2016, Carl Icahn
David A. Grogan | CNBC
Billionaire investor Carl IcahnHas started a proxy battle with McDonald’sOver the poor treatment of pigs by fast food companies, two seats were needed at their global headquarters.
McDonald’s announced Sunday that it was closing its doors. release that Icahn has nominated Leslie Samuelrich and Maisie Ganzler for election at the company’s 2022 annual shareholder meeting.
McDonald’s claimed that Mr. Icahn’s nomination was focused on a specific issue concerning the company’s pork commitment. The Humane Society U.S.A has introduced this through a shareholder proposal.”
Icahn was a pioneer in modern capitalism, having taken over iconic firms such as Trans World AirlinesMcDonald’s to treat pigs better in recent yearsAccording to The Wall Street Journal. According to The Wall Street Journal, he was said to have demanded the end to an industry practice of using crates for pregnant pigs to rest so that they are unable to move.
Icahn said that animal lovers are an important part of my life, as previously reported by The Journal.
According to the press release, McDonald’s demanded all U.S. pork suppliers change to “crate free” meat. McDonald’s uses pork for its McRib sandwiches, bacon cheeseburgers and breakfast options.
McDonald’s stated that while the Company is open to further industry collaboration on the issue, there are currently limited pork supplies in America which would render this kind of commitment impracticable. It is a deviation from the veterinary science that was used in large-scale production across the industry and it would hurt the Company’s common pursuit to provide high quality products for accessible prices.
The release states that Icahn has 200 shares of McDonald’s stock. According to McDonald’s, he is also majority owner of the company that supplies the packaging industry for pork and poultry. McDonald’s asked why Icahn had not called that company to offer similar promises.
McDonald’s stock closed Friday at $225.60, slightly down from the previous day.
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