Post by account_disabled on Feb 28, 2024 1:13:39 GMT -5
Legendary investor Carl Icahn is known for his aggressive campaigns to shake up corporate America. Now, he is taking advantage of his reputation to address an issue he is very interested in: the welfare of pigs, which is why the billionaire attacks McDonald's.
According to CNN Business , McDonald's recently said that Icahn had named two new directors to its board. The move "relates to a narrow issue linked to the company's commitment to pork," the fast food chain said in a statement.
The billionaire attacks McDonald's on the welfare of consumer animals
Icahn — who served as the inspiration for the larger-than-life character Gordon Gekko in the 1987 film Wall Street — has previously targeted companies such as Yahoo, Dell (DELL) and Netflix (NFLX). The goal in those cases was to make more money.
However, its latest campaign is to pressure McDonald's to require all of its pork suppliers in the United States to abandon the practice of keeping animals confined in cages so small that they cannot turn around.
I am truly moved by these animals and the unnecessary suffering they are subjected to. A pig is an intelligent and sentient living being.
Carl Icahn, investor.
The billionaire has stated that he only owns 200 shares of the company, according to McDonald's, said participation would be worth just over $50,000.
Better conditions for input
In 2012, McDonald's for the first time Changsha Mobile Number List promised to eliminate the use of crates, also known as gestation stalls, for pregnant sows. It recently announced that by the end of 2022, between 85% and 90% of its meat in the US will come from sows that are not housed in these types of containers. Likewise, it hopes to reach 100% by the end of 2024.
Although the corporation has rejected Icahn's proposal, of whom it has said that "he has asked for new commitments", such as sourcing exclusively "cage-free" pork.
While the company hopes to promote greater industry collaboration on this issue, the current supply of pork in the United States would make this type of commitment impossible.
McDonald's.
Billionaire attacks McDonald's for the welfare of pigs
McDonald's sources 1% of the pork produced in the United States, and does not own any pork producers, he added.
He also noted that Icahn is the majority owner of Viskase, which manufactures and supplies packaging for the pork industry, but "has not publicly called on Viskase to make commitments similar to those of McDonald's."
For his part, Icahn told Bloomberg that he got involved again because McDonald's "never kept" its decade-old commitment. "We're not going to fool around with them anymore," he stressed.
The dispute between the investor and the company could reach unexpected levels because although the former's demand seems feasible and beneficial, the truth is that if the situation in Viskase were verified, there would be inconsistency on the part of Icahn.
According to CNN Business , McDonald's recently said that Icahn had named two new directors to its board. The move "relates to a narrow issue linked to the company's commitment to pork," the fast food chain said in a statement.
The billionaire attacks McDonald's on the welfare of consumer animals
Icahn — who served as the inspiration for the larger-than-life character Gordon Gekko in the 1987 film Wall Street — has previously targeted companies such as Yahoo, Dell (DELL) and Netflix (NFLX). The goal in those cases was to make more money.
However, its latest campaign is to pressure McDonald's to require all of its pork suppliers in the United States to abandon the practice of keeping animals confined in cages so small that they cannot turn around.
I am truly moved by these animals and the unnecessary suffering they are subjected to. A pig is an intelligent and sentient living being.
Carl Icahn, investor.
The billionaire has stated that he only owns 200 shares of the company, according to McDonald's, said participation would be worth just over $50,000.
Better conditions for input
In 2012, McDonald's for the first time Changsha Mobile Number List promised to eliminate the use of crates, also known as gestation stalls, for pregnant sows. It recently announced that by the end of 2022, between 85% and 90% of its meat in the US will come from sows that are not housed in these types of containers. Likewise, it hopes to reach 100% by the end of 2024.
Although the corporation has rejected Icahn's proposal, of whom it has said that "he has asked for new commitments", such as sourcing exclusively "cage-free" pork.
While the company hopes to promote greater industry collaboration on this issue, the current supply of pork in the United States would make this type of commitment impossible.
McDonald's.
Billionaire attacks McDonald's for the welfare of pigs
McDonald's sources 1% of the pork produced in the United States, and does not own any pork producers, he added.
He also noted that Icahn is the majority owner of Viskase, which manufactures and supplies packaging for the pork industry, but "has not publicly called on Viskase to make commitments similar to those of McDonald's."
For his part, Icahn told Bloomberg that he got involved again because McDonald's "never kept" its decade-old commitment. "We're not going to fool around with them anymore," he stressed.
The dispute between the investor and the company could reach unexpected levels because although the former's demand seems feasible and beneficial, the truth is that if the situation in Viskase were verified, there would be inconsistency on the part of Icahn.