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Billionaire Activist Investor Carl Icahn Intensifying McDonald’s Fight Over Pork Sourcing

By John F. Heerdink, Jr.

Reportedly, billionaire activist investor Carl Icahn has nominated two members to McDonald’s Corporation (MCD) board of directors for election during the company’s 2022 annual shareholder meeting in the fight over the treatment of pigs by the burger chain’s suppliers. The other odd thing is that Carl Icahn states that he only holds 200 shares in the company. He nominated Maisie Ganzler and Leslie Samuelrich. McDonald’s added that it would evaluate the nominees as it would any other board candidates.

McDonald’s informed, Icahn has insisted on new McDonald’s commitments, including requiring all of the company’s U.S. pork suppliers to move to “crate-free” pork and set specific timeframes. McDonald’s pledged in 2012 to source pork from producers who do not use small crates to house pregnant sows. Icahn raised concerns that it is “obscene” how the animals used for McDonald’s products are treated.

Such a commitment would be impossible given the current supply “and would harm the company’s shared pursuit of providing customers with high-quality products at accessible prices,” the company stated.

By the end of this year, the company expects to source 85% to 90% of its U.S. pork volumes from sows not housed in gestation crates during pregnancy and expects 100% of its U.S. pork to come from sows housed in groups during pregnancy by the end of 2024.

McDonald’s Corporation (MCD) is the leading global foodservice retailer with nearly 37,000 locations in over 100 countries. The Corporation operates and franchises McDonald’s restaurants in the US and across the globe with over 90% of its restaurants owned and operated by local, independent businessmen and women. To learn more about McDonald’s Corporation (MCD) and to track its progress please visit the Vista Partners McDonald’s Coverage Page

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

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(Read Original Story: Icahn nominates two members to McDonald's board to challenge pig policy in Reuters)


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