AP – McDonald’s is reshaping its board, including the exit of a board member recently targetted by activist investor Carl Icahn over how animals used in the chain’s food are treated.
Sheila Penrose, who is retiring, has been a McDonald’s board member for 15 years. She was in charge of the sustainability and corporate responsibility committee.
Billionaire Carl Icahn nominated two alternative board candidates earlier this year in an attempt to force changes at the world’s biggest burger chain over how it sources the meat used in its cheeseburgers and sausage patties.
Icahn sought to unseat Penrose and Richard Lenny, the former CEO of Hershey. Shareholders resoundingly rejected Icahn’s campaign, which garnered the support of only one per cent of the company’s outstanding shares. Penrose maintained overwhelming support from shareholders as well, as did Lenny.
McDonald’s, based in Chicago, did not say why Penrose is retiring now but it lauded her contributions.