Carl Icahn is using Longacre Square Partners in his quest to place two directors on McDonald’s board at its May 26 annual meeting.
The corporate investor has selected Maisie Ganzler of the Bon Appetit Management Co., and Leslie Samuelrich of Green Century Capital Management to support his effort to help the fast-feeder “realize its ESG potential,” especially in the area of animal welfare.
They would replace Richard Lenny, CEO of Hershey Co., and Sheila Penrose, chair of McDonald’s governance, sustainability & corporate social responsibility committee.
Icahn wants McDonald’s to require pork suppliers to move to crate-free production and set timelines for doing so.
The company claims that demand is “completely unfeasible” and would require it to secure 300-400 times more animals housed in crate-free systems to keep its supply chain running.
That would dramatically increase costs and place a burden on the company and its suppliers, according to the company.
Longacre’s Charlotte Kiaie and Bela Kirpalani are working the media for Icahn.