Carl Icahn launches proxy combat with McDonald’s over remedy of pigs

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Carl Icahn talking at Delivering Alpha in New York on Sept. 13, 2016.

David A. Grogan | CNBC

Billionaire investor Carl Icahn has began a proxy combat with McDonald’s over the quick meals large’s remedy of pigs, pushing for 2 board seats on the world quick meals large.

McDonald’s stated Sunday in a release that Icahn has nominated Leslie Samuelrich and Maisie Ganzler for election on the firm’s 2022 annual shareholder assembly.

“Mr. Icahn’s acknowledged focus in making this nomination pertains to a slender difficulty relating to the corporate’s pork dedication, which the Humane Society U.S. has already launched by way of a shareholder proposal,” McDonald’s stated.

Icahn, who helped outline a brand new period of capitalism within the Nineteen Eighties after taking on iconic corporations together with Trans World Airlines, has pushed McDonald’s for higher remedy of pigs in recent years, in keeping with The Wall Road Journal. Particularly, he’s stated to have referred to as for the tip of an business observe that makes use of crates to accommodate pregnant pigs to allow them to’t transfer.

“Animals are one of many issues I really feel actually emotional about,” Icahn beforehand advised The Journal.

The company raider has demanded that McDonald’s require all its U.S. suppliers transfer to “crate-free” pork, in keeping with the discharge. The quick meals chain makes use of pork in its bacon cheeseburgers, breakfast choices and its McRib sandwich.

“Whereas the Firm appears to be like ahead to selling additional collaboration throughout the business on this difficulty, the present pork provide within the U.S. would make one of these dedication unattainable,” McDonald’s stated. “Moreover, it displays a departure from the veterinary science used for large-scale manufacturing all through the business, and would hurt the Firm’s shared pursuit of offering prospects with prime quality merchandise at accessible costs.”

Icahn owns simply 200 shares of McDonald’s inventory, in keeping with the discharge. He’s additionally the bulk proprietor of an organization that provides packaging for the pork and poultry business, in keeping with McDonald’s, which questioned why Icahn hadn’t referred to as on that firm to make comparable commitments.

McDonald’s shares closed Friday down barely at $250.60.

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