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McDonald’s (NYSE: MCD) is said to be winning a proxy fight with activist Carl Icahn, who started over his allegations over the fast food chain’s treatment of pregnant pigs.
McDonald’s (MCD) appears to have preserved two board seats, which Icahn challenged with two board candidates, according to one WSJ reportwith reference to early turnout ahead of Thursday’s annual meeting.
The report comes after proxy consulting firm ISS last week issued a recommendation in support of the nominated board members on the McDonald’s (MCD) board.
Icahn began his fight with McDonald’s (MCD) in February when he nominated two board members in a dispute with the company over its treatment of pigs.
Icahn urged McDonald’s to stop using pork-derived pork, something he first brought up with the fast-food giant around 2012.
Icahn does not stop with McDonald’s. In late March, he also charged Kroger (KR) and nominated two directors to the supermarket chain’s board in his push for better treatment of pigs.
Earlier this month, Icahn urged major index fund managers, especially those focused on ESG, to embark on their fight against McDonald’s.