• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Despite a $45 million net worth, Big Bang Theory star Kunal Nayyar still works tough, 16-hour days—he repeats this mantra when he's overwhelmed

2

A $1,000 loan kept MacKenzie Scott in college—now the billionaire philanthropist is giving away her $37 billion fortune to pay it forward

3

Mark Cuban wants to solve wealth inequality by making employers choose between paying higher taxes or giving every member of staff company stock

1

Despite a $45 million net worth, Big Bang Theory star Kunal Nayyar still works tough, 16-hour days—he repeats this mantra when he's overwhelmed

2

A $1,000 loan kept MacKenzie Scott in college—now the billionaire philanthropist is giving away her $37 billion fortune to pay it forward

3

Mark Cuban wants to solve wealth inequality by making employers choose between paying higher taxes or giving every member of staff company stock
LeadershipMcDonald's

McDonald’s shareholders win more of a say on who gets a board seat

By
Eleanor Bloxham
Eleanor Bloxham
Down Arrow Button Icon
By
Eleanor Bloxham
Eleanor Bloxham
Down Arrow Button Icon
May 21, 2015, 2:05 PM ET
Photo courtesy: David McNew Getty Images
Add Fortune on Google for similar content.

Proxy access, the ability of shareholders to put their own board member candidates on the corporate ballot, has apparently won shareholder support at McDonald’s.

Andy McKenna, McDonald’s (MCD) non-executive chair, announced the preliminary vote at the annual meeting this morning. It was the only shareholder proposal that received a majority – and it did so with a 61% vote.

The advisory shareholder proposal calls for a proxy access bylaw to allow shareholders the ability to put their own candidates on the ballot if they have held their shares for at least three years and if they, collectively, hold at least 3% of shares outstanding. Cambria Allen, corporate governance director, at UAW Retiree Medical Benefits Trust, presented the proposal.

“I am very happy that shareholders have given the board a mandate,” Allen told me. She was pleased with the “overwhelming support” to provide this “fundamental shareholder right.” “I hope the board will respond and adopt proxy access,” she told me. She said that she doesn’t know if the vote will create momentum for change in McDonalds’ board composition, but she said that the board has been engaged in discussions so far regarding the proposal. “Just because we have the right does not mean shareholders will use it. It will hold the board more accountable. It’s a means of communication, a mechanism for long-term shareholders to encourage communication with the board,” she says.

Allen said that she is encouraged by recent actions McDonald’s has taken to raise the minimum wage at its corporate-controlled restaurants and with the fast-food giant’s initiatives to encourage workers and students to get their high school diplomas. It shows they recognize that “their workforce is their No. 1 asset,” she says.

“Steve [Easterbrook. McDonald’s CEO] did a really good job” in the meeting, “but we’ll see” what comes next, she told me.

Eleanor Bloxham, a corporate governance and valuation authority, is CEO of The Value Alliance and Corporate Governance Alliance (http://www.thevaluealliance.com). She has been a regular contributor to Fortune since April 2010 and is the author of two books on corporate governance and valuation.

About the Author
By Eleanor Bloxham
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Leadership


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.