Carl Icahn ran a McDonald's proxy fight on 200 shares.
In 2012 McDonald's pledged to phase out gestation stalls by 2022. It expected to reach 85% to 90%. Carl Icahn ran a proxy fight on 200 shares and lost, but the fight cost roughly $16 million.
Transcript
$16 million. That is what McDonald's expected to spend fighting a proxy contest over a promise it made a decade earlier.
In February 2012, McDonald's stood beside the Humane Society and pledged to phase gestation stalls out of its U.S. pork supply, with a target of 2022.
McDonald's said it expected 85% to 90% of its U.S. pork to come from sows not housed in crates during pregnancy by the end of 2022. 100% moved to 2024.
That gap let Carl Icahn run a proxy fight on 200 shares. He lost, 490 million to 9 million.
A public, dated pledge is an option anyone can exercise later, for the price of a few shares. Make the promise if you mean it, and track it like a debt.
The records behind this video
Every figure in the video comes from this Decision Record, each with its sources.
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