McDonald's is using Brunswick Group to publicize the recommendation by the Institutional Shareholders Services advisory group to vote for the management-backed board nominees instead of the directors proposed by Carl Icahn.
ISS on May 16 said Icahn's campaign "has not made a sufficient case, on an issue-specific or broader view of ESG that the immediate replacement of incumbent directors [Hershey CEO Richard Lenny and chair of the governance, sustainability & CSR committee Sheila Penrose] is necessary at this time."
Icahn's goal is to help the fast-feeder "realize its ESG potential," especially in the area of animal welfare. He wants McDonald's to source pork from suppliers who raise pigs via crate-free production.
He is using Longacre Square Partners (Charlotte Kiaie and Bela Kirpalan) to promote the effort.
The McDonald's annual meeting is set for May 26.
Brunswick has Jayne Rosefield, senior partner, consumer industries group global lead & Chicago office head, and Eleanor French, partner in San Francisco, repping McDonald's.
May 17, 2022, by Bill Huey, Strategic Communications
It is amazing, but Carl Icahn is actually becoming a lovable character. He is taking on McDonald's over their use of pork supplied by vendors who use caged pigs to breed faster and better.
And his criticisms of CEOs are downright comical ("you can't get 'em off the golf course; they won't come to the phone").
Go Carl! Put a fork in 'em!