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| Carl Icahn |
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.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
