- Spain welcomed record number of tourists this summer
- France says coming tax hikes on the wealthy to be 'temporary'
- Why are Thailand's roads so deadly?
- Oracle to invest $6.5 bn in Malaysian cloud services region
- Parkrun marks 20 years of a free weekly jog, run... or walk
- Oil extends rally after Iran attack, Hong Kong soars again
- Prostitutes, prospectors drive spread in DR Congo mpox capital
- Oil extends rally after Iran attack, Hong Kong resumes surge
- Extreme heat another form of death sentence in Texas jails
- Can music help plants grow? Study suggests sound boosts fungus
- Nike earnings drop, says turnaround will take time
- US dockworkers launch mass strike a month before election
- Iron Dome: Israel's key anti-missile shield
- Cranes stand still as US dockworkers fight for 'future'
- GM reports US sales dip, but says EVs grew
- Sheinbaum takes office as Mexico's first woman president
- Webb telescope detects carbon dioxide on Pluto's largest moon
- Stock markets slump, oil jumps on Middle East concerns
- French PM vows more taxes and spending cuts ahead of budget fight
- Germany inaugurates IBM's first European quantum data centre
- Stock markets diverge as eurozone inflation drops further
- France's richest man takes control of Paris Match magazine
- Anger meets tear gas as Nigeria hardship protests fizzle out
- US dockworkers launch mass strike month before election
- Evacuations from Lebanon: what we know
- Feathers fly at Chanel's Paris fashion return
- UAE oil giant ADNOC swoops on German chemicals firm Covestro
- Eurozone inflation falls under 2% for first time since 2021
- Coldplay ticket scalping fiasco sparks backlash in India
- Droughts drive Spanish boom in pistachio farming
- Tokyo recovers some losses to lead Asian markets higher
- Rural schools empty in North Macedonia due to exodus
- US dockworkers launch strike after labor contract expires
- Thousands evacuated as Super Typhoon Krathon approaches Taiwan
- Kenya airport whistleblower fears for his life
- Sheinbaum to take office as Mexico's first woman president
- Scientists fear underfunded Argentina research on verge of collapse
- US port officials gird for strike despite last-minute bargaining
- With 118 dead from Hurricane Helene, Biden defends US government response
- Breeder who tried to create enormous trophy sheep jailed in US
- Qatar Airways seeking 25% stake in Virgin Australia
- US port officials gird for strike as labor talks stay stuck
- As toll crosses 100, Trump puts Hurricane Helene at election center stage
- US Fed Chair sees 'further disinflation' in economy
- Epic Games sues Google and Samsung over app store
- Officials see no shortages from likely US port strike
- UK families of Gaza hostages warn Lebanon attack 'takes focus away'
- Shares in Stellantis, Aston Martin skid on profit warnings
- Dali prints found in London garage sold at auction
- ECB chief backs bank mergers amid UniCredit, Commerzbank talk
McDonald's investors reject Icahn challenge on animal welfare
McDonald's shareholders overwhelmingly rejected billionaire Carl Icahn's efforts to install two board members to remake the company's animal welfare policies, the restaurant chain said Thursday.
Icahn, known on Wall Street for playing hardball in messy corporate battles, had launched the unlikely crusade earlier this spring, accusing the food giant of inhumane pig-farming practices and breaking its promises to address the problem.
But Icahn's nominees garnered only about one percent of outstanding shares, according to preliminary results released by McDonald's that said all 12 company directors had been reelected.
"McDonald's is committed to remaining a leader on environmental, social and governance (ESG) initiatives, including animal welfare," the company said. "Its approach is governed by making a meaningful impact in the communities it serves while also meeting the needs of customers."
Icahn had launched the campaign in February following numerous meetings with McDonald's executives and the Humane Society.
According to the Humane Society, metal gestation crates -- used to contain sows for almost all of a pregnancy -- are so small that the animal cannot turn around, and can lead to health issues such as infection or anatomical problems.
A May 4 investor presentation by Icahn touted nominees Maisie Ganzler and Leslie Samuelrich as ESG experts, saying McDonald's had missed a pledge to end use of gestation crates by 2022.
The fast-food chain rebutted by saying it was on track to phase out the stalls by the end of 2024, citing the Covid-19 pandemic and the outbreak of African Swine Fever for causing "unprecedented disruption" to supply chains and global pork production.
X.Wong--CPN