On Monday, McDonald's (NYSE: MCD) announced that there are some major changes coming to its executive board at the end of September. The company wrote that Sheila Penrose will be retiring after more than fifteen years on the board, and three new directors will be added: Anthony Capuano of Marriott International (NASDAQ: MAR), Jennifer Taubert of Johnson & Johnson (NYSE: JNJ), and Amy Weaver of Salesforce (NYSE: CRM).
"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," Hernandez said.
Penrose, who served as McDonald's chair of sustainability, was challenged earlier this year when billionaire activist investor Carl Icahn attempted to get the company to kick her off the executive board as a part of his plan to change how the fast food chain sources its pork.
However, Ichan only received around 1% of shareholder votes. A spokesperson for Mcdonald's said that Penrose's retirement is unrelated to the Ichan ouster attempt. Her replacement as sustainability chair has not been announced.
Each of the new board members is meant to support a specific area of McDonald's goals for the future. First, Capuano is known for his work in hospitality and franchising. Next, Taubert is meant to use her experience in public health as the chairman of pharmaceuticals at J&J to advance McDonald's efforts to serve healthier food. Finally, Weaver's work with digital and cloud technology is expected to boost the company's online loyalty program.
"It is a testament to this great brand, and a continuation of the rich legacy of its Board, that we are welcoming such experienced, global leaders to help steward McDonald's continued success," Chairman of the Board, Enrique Hernandez, Jr., is quoted in the company announcement. "Each of these individuals represent the highest caliber of values-based leadership, bringing deep and varied expertise to help guide the Company."
McDonald's exceeded analysts' expectations with its second-quarter sales, but the fast food franchise is still struggling with the effects of inflation and unrest in Europe. CEO Chris Kempczinski recently said that McDonald's is facing "weak consumer sentiment around the world and the possibility of a global recession."
The company has also been hit by increasing pushback from its franchisees who feel McDonald's doesn't have their best interests at heart.