Carl Icahn launches proxy fight with McDonald’s over treatment of pigs

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

McDonald’s mentioned 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 said focus in making this nomination pertains to a slim challenge relating to the corporate’s pork dedication, which the Humane Society U.S. has already launched by means of a shareholder proposal,” McDonald’s mentioned.

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

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

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

“Whereas the Firm seems ahead to selling additional collaboration throughout the business on this challenge, the present pork provide within the U.S. would make any such dedication inconceivable,” McDonald’s mentioned. “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 clients with top quality merchandise at accessible costs.”

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

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