McDonald’s to lose one board member, add three others

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McDonald’s announced several changes to its board of directors on Monday.

Three executives — Salesforce President and CFO Amy Weaver, Johnson & Johnson Executive Vice President and Worldwide Chairman, Pharmaceuticals Jennifer Taubert and Marriott International CEO Anthony Capuano — have been elected to its board of directors, McDonald’s said in a press release. Their directorships begin on October 1.

“They are inspiring leaders with a proven track record of leading large, complex organizations,” McDonald’s President and CEO Chris Kempczinski said in a statement. “Their experience managing some of the world’s most respected global brands will greatly benefit McDonald’s and position the company for continued growth.”

The McDonald’s restaurant logo is seen as McDonald’s Corp. reports fourth quarter in Arlington, Virginia, January 27, 2022. (REUTERS/Joshua Roberts/Reuters Photos)

Meanwhile, board member Sheila Penrose will retire on September 30 after more than 15 years, the company also announced. She currently heads the sustainability and corporate social responsibility committee and also serves on the board committee, according to her company profile on the McDonald’s website.

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“Through her leadership of the Sustainability and Corporate Responsibility Committee, Sheila has overseen McDonald’s critical progress against our ambitious climate, responsible sourcing and diversity, equality and inclusion, which has made us an industry leader,” Enrique Hernandez Jr. , the chairman of the board, in a statement expressing her gratitude for her work at McDonald’s.

McDonald's fast food chain.

McDonald’s restaurant (iStock/iStock)

Kempczinski described Penrose as a “huge resource” to him and said he “will miss her”.

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In May, Reuters reported that she survived a failed attempt by billionaire investor Carl Icahn to replace her and another board member with other individuals. According to the paper, Icahn attempted the move during a proxy fight with McDonald’s over its animal welfare policy regarding pigs.

ticker Safety Last Change Change %
MCD MCDONALD’S CORP. 262,95 -3.59 -1.35%
CRM SALES FORCE INC. 176.98 -6.79 -3.69%
JNJ JOHNSON & JOHNSON 167.59 -0.59 -0.35%
MAR MARRIOTT INTERNATIONAL INC. 157.92 -3.46 -2.14%

McDonald’s reported in late July that consolidated sales fell 3% in the second quarter of 2022, while global comparable sales grew 9.7%.

The Valley Voice
The Valley Voicehttp://thevalleyvoice.org
Christopher Brito is a social media producer and trending writer for The Valley Voice, with a focus on sports and stories related to race and culture.

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