ISS suggests McDonald’s shareholders again management directors in fight with Icahn

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BOSTON, May 16 (Reuters) – Proxy advisory company Institutional Shareholders Products and services on Monday advised McDonald’s Corp (MCD.N) shareholders vote for the firm’s directors in a boardroom combat with billionaire trader Carl Icahn over animal legal rights.

Icahn, who ordinarily requires on underperforming providers with massive financial bets, has nominated two director candidates to the quick-food items restaurant’s board to keep the corporation accountable for pledges it manufactured a decade ago on how it would supply its pork.

ISS, whose recommendations often guideline buyers, wrote on Monday that Icahn has “not designed a sufficient situation, on an problem-specific or broader perspective of ESG, that the immediate alternative of incumbent directors is needed at this time.”

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The report did notice that buyers who prioritize environmental, governance and social concerns may possibly want to “withhold (votes) on these administrators” to signal to the business that much more interest wants to be compensated to these issues at the board degree.

Icahn is interesting to investors to elect Leslie Samuelrich and Maisie Ganzler and switch incumbent McDonald’s directors Sheila Penrose and Richard Lenny.

ISS acknowledged that Icahn has included “megawatts” to the spotlight already shining on environmental, governance and social concerns as he detailed publicly the firm’s pledge to halt buying pork from suppliers that confine pigs in modest crates for the duration of their pregnancy by the close of this yr.

Icahn has named the use of gestation crates “inhumane.”

Shareholders will forged their votes for McDonald’s directors on Might 26.

Icahn’s marketing campaign is elevating significant inquiries for buyers, ISS wrote, and asked no matter if organizations are sufficiently concentrated on ESG issues.

A consultant for Icahn was not instantly offered for comment.

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Reporting by Svea Herbst-Bayliss Editing by Mark Porter

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