Investment Group Wants McDonald's Chairman Ousted
An investment group that works with union-backed pension funds is calling for shareholders to oust McDonald’s Chairman Enrique Hernandez along with Director Richard Lenny over the exit deal given to former CEO Steve Easterbrook. CtW Investment Group, which holds substantial shares in McDonald’s, has been a vocal critic of the exit deal. Easterbrook left with stock and options worth $44 million.
The fund believes that Hernandez and Lenny, who chairs the McDonald’s board’s compensation committee, should be voted out as directors over that exit package as Easterbrook violated the company's non-fraternization policy and shouldn't be rewarded for his actions.
See "Investment Group Wants McDonald's Chairman Ousted ", Jonathan Maze, Restaurant Business, April 24, 2020