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

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McDonald's announced several changes to its board of directors 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 the board of directors, McDonald's announced in a press release. Their directorships will start on Oct. 1.

"They are inspiring leaders with a demonstrated track-record leading large, complex organizations," McDonald's President and CEO Chris Kempczinski said in a statement. "Their experience stewarding some of the world’s most respected global brands will benefit McDonald’s greatly and position the Company for continued growth."

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

Meanwhile, board member Sheila Penrose is set to retire from the board Sept. 30 after more than 15 years, the company also announced. She currently heads the sustainability and corporate responsibility committee and also serves on the governance committee, according to her corporate 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, equity and inclusion goals, positioning us as a leader in the industry," Enrique Hernandez Jr., the chairman of the board, said in a statement expressing gratitude for her work at McDonald's.

McDonald’s restaurant (iStock / iStock)

Kempczinski described Penrose as a "tremendous resource" for him and said he "will miss her." 

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In May, Reuters reported that she withstood an unsuccessful attempt by billionaire investor Carl Icahn to replace her and another board member with other individuals. According to the outlet, Icahn attempted the move during a proxy battle with McDonald's over its animal welfare policy regarding pigs.

Ticker Security Last Change Change %
MCD MCDONALD’S CORP. 262.95 -3.59 -1.35%
CRM SALESFORCE 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 its consolidated revenues decreased 3% in the second quarter of 2022, while global comparable sales increased 9.7%.

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