Become an InsiderA group of investors is calling for McDonald's to oust its board's chairman and compensation committee chair.
Last week, CtW Investment Group executive director Dieter Waizenegger, along with Connecticut Treasurer Shawn Wooden and New York City Comptroller Scott Stringer, sent a letter to the McDonald's board calling for the replacement of Chairman Enrique Hernandez, Jr. and Compensation Committee Chair Richard Lenny. Wooden and Stringer control their respective regions' retirement systems.
"You basically have a board that is very slow to react," Waizenegger told Business Insider on Tuesday. "In a challenging year, and with the Board of Directors' guidance, McDonald's business has proven resilient," the statement continued. "The Board maintains an active and engaged dialogue with our shareholders and other stakeholders."