Dive Insight:
- McDonald’s elected three new board members on Monday and announced the retirement of Sheila Penrose, who has served on the board for more than 15 years.
- Penrose will step down from her role on Sept. 30. She led the Sustainability and Corporate Responsibility Committee, overseeing the chain’s progress on climate, sourcing and DEI goals.
- Earlier this year, McDonald’s investor Carl Icahn sought to unseat Penrose and board member Richard Lenny over McDonald’s suppliers’ treatment of pigs, but shareholders rejected his proposal.
Dive Brief:
The board’s new members bring a mix of real estate, franchising, legal and digital expertise with them, but these skill sets don’t directly substitute for Penrose’s experience. McDonald’s didn’t disclose if any incoming or existing board members will oversee the Sustainability and Corporate Responsibility Committee in Penrose’s absence.
Anthony Capuano, CEO of Marriott International, Jennifer Taubert, EVP and worldwide chairman of Johnson & Johnson, and Amy Weaver, president and CFO of of Salesforce, will join the board on Oct. 1. Their entry, and Penrose’s exit, will grow the board’s members from 12 to 14.
“They are inspiring leaders with a demonstrated track-record leading large, complex organizations. Their experience stewarding some of the world's most respected global brands will benefit McDonald's greatly and position the Company for continued growth,” McDonald’s CEO Chris Kempczinski said of Capuano, Taubert and Weaver in a statement.
All 12 of McDonald’s board members were reelected by investors in May, quashing Icahn’s attempt to reshape the board in order to change the treatment of pregnant pigs by McDonald’s pork suppliers.
