McDonald's Shareholders Re-Elect All 12 Directors at Annual Meeting

Rhea-AI Summary

On May 26, 2022, McDonald's Corporation (NYSE: MCD) announced that shareholders re-elected all 12 directors during the annual meeting. Notably, Carl Icahn's two nominees received only about 1% of the votes and were not elected. The leadership expressed gratitude for shareholder support, emphasizing the board's diversity and experience in guiding sustainable value creation and addressing social and environmental challenges. McDonald's remains committed to ESG initiatives, including animal welfare, while focusing on serving the interests of shareholders.

Positive

• All 12 directors were re-elected, indicating strong shareholder support.
• The board is diverse and has a strong track record, enhancing effective oversight.
• Commitment to ESG initiatives aligns with modern corporate governance trends.

Negative

• Carl Icahn's nominees received only about 1% of the votes, reflecting limited shareholder dissent.

CHICAGO, May 26, 2022 /PRNewswire/ -- McDonald's Corporation (NYSE: MCD) today announced that, based on a preliminary vote count provided by its proxy solicitor, shareholders have voted to re-elect all 12 of McDonald's highly qualified directors to the McDonald's Board: Enrique Hernandez, Jr., Lloyd H. Dean, Robert A. Eckert,  Catherine M. Engelbert, Margaret H. Georgiadis, Chris Kempczinski, Richard H. Lenny, John J. Mulligan, Sheila A. Penrose, John W. Rogers, Jr., Paul S. Walsh and Miles D. White. The preliminary results also indicate that Mr. Icahn's two nominees received approximately 1% of the Company's outstanding shares and were not elected to the McDonald's Board.

The Company issued the following statement:

The McDonald's Leadership Team and Board of Directors would like to thank shareholders for their continued support and engagement. Under the current leadership, and guided by the Board of Directors, McDonald's has successfully continued its long history of sustainable value creation while acting on some of the world's most pressing social and environmental challenges important to our stakeholders. 

The McDonald's Board is comprised of a diverse, highly engaged group of individuals that provide effective oversight of our Company and have strong track records inside and outside of our Boardroom. McDonald's shareholders value a Board of Directors with a breadth of experiences to advise the Brand on the multitude of issues that can impact the business. 

McDonald's is committed to remaining a leader on ESG initiatives, including animal welfare. Its approach is governed by making a meaningful impact in the communities it serves while also meeting the needs of customers. Moving forward, McDonald's Board and Leadership Team remain focused on continuing to take actions that uphold and advance our values while committing to serve the interests of all our shareholders.

Additional information regarding the results of the annual shareholders' meeting will be available in a Form 8-K filed with the Securities and Exchange Commission and on McDonald's investor relations website within the next four business days. The vote is subject to certification by the Independent Inspectors of Election.

About McDonald's
McDonald's is the world's leading global foodservice retailer with more than 39,000 locations in over 100 countries. Approximately 95% of McDonald's restaurants worldwide are owned and operated by independent local business owners.

Forward-Looking Statements
This release and other written or oral statements made from time to time by McDonald's contain forward-looking statements about future events and circumstances. Generally speaking, any statement not based upon historical fact is a forward-looking statement. In particular, statements regarding McDonald's plans, strategies, prospects and expectations regarding its business and industry are forward-looking statements. They reflect McDonald's expectations, are not guarantees of performance and speak only as of the date hereof. Except as required by law, McDonald's does not undertake to update such forward-looking statements. You should not rely unduly on forward-looking statements. McDonald's business results are subject to a variety of risks, including those that are described in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 and subsequent filings with the Securities and Exchange Commission. 

 

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SOURCE McDonald's Corporation

FAQ

What was the outcome of the McDonald's shareholder meeting on May 26, 2022?

Shareholders re-elected all 12 directors at the annual meeting.

What percentage of votes did Carl Icahn's nominees receive during McDonald's shareholder election?

Carl Icahn's nominees received approximately 1% of the outstanding shares.

How does McDonald's Board of Directors contribute to company strategy?

The Board's diverse experience provides effective oversight and guidance on sustainable value creation.

What initiatives is McDonald's focusing on regarding ESG?

McDonald's is committed to various ESG initiatives, including animal welfare.

Where can I find more information about McDonald's annual shareholder meeting results?

Additional information will be available in a Form 8-K filed with the SEC and on McDonald's investor relations website.