Skip to content
  • MyNewMarkets.com
  • Claims Journal
  • Insurance Journal TV
  • Academy of Insurance
  • Carrier Management
Insurance Journal - Property Casualty Industry News

Featured Stories

  • Former AIG Exec McElroy Faces Sex Assault Charges
  • Aon Promotes Reinsurance Leaders
  • Articles
  • Jobs
  • Markets

Current Magazine

current magazine
  • Read Online
  • Subscribe
  • Login
  • Front Page
    • National
    • International
    • Most Popular
    • Magazine
    • Forums
    • Blogs
    • Videos/Podcasts
    • Newsletters
  • News
    • Most Popular
    • National
    • International
    • East
    • Midwest
    • South Central
    • Southeast
    • West
  • Magazines
  • Research
  • Directories
  • Jobs
  • Features
    • Events
    • Forums
    • Market Directories
    • Quotes
    • Polls
    • Rankings & Awards
    • Insurance Giving Back
  • Subscribe

McDonald’s Investors Demand Civil Rights Audit in Close Vote

By Leslie Patton and Scott Deveau | May 27, 2022
Email This Subscribe to Newsletter
  • Article

McDonald’s Corp. investors voted in favor of a proposal calling for an independent civil-rights audit, going against the company’s recommendation, according to preliminary vote totals viewed by Bloomberg.

The fast-food chain joins the ranks of other large businesses facing a wave of shareholder scrutiny regarding their environmental, social and governance stances. The civil rights audit was the only shareholder proposal to gain the backing of a majority of votes cast at McDonald’s annual meeting. Other votes that failed included a request for a report on lobbying activities and spending.

The vote was a close one and one of several contentious issues on the ballot at the virtual stockholders meeting Thursday, with 52% of votes cast in favor of the proposal, 47% against and the remainder abstaining. McDonald’s didn’t allow media to listen to the meeting.

While the vote is nonbinding, failing to follow through wouldn’t look good, according to Nell Minow, who advises companies about corporate governance as vice chair at ValueEdge Advisors. Even before the vote, large shareholders including Norges Bank and the State Board of Administration of Florida voiced their support for an audit.

The company’s second-biggest shareholder, BlackRock Inc., voted against the proposal even though it’s undergoing its own racial-equity audit, according to people familiar with the matter.

McDonald’s Beats Back Challenge to Settlement With U.S. Labor Agency

McDonald’s declined to comment on the audit vote.

Separately, McDonald’s said activist investor Carl Icahn received only about 1% of shareholder votes in favor of his two director candidates, failing in his drive to advocate for animal rights through a proxy challenge.

The shareholders voted to re-elect all 12 of McDonald’s board members, the Chicago-based company said in a statement. Icahn had nominated two new directors as part of his campaign for pregnant pigs to be treated more humanely in McDonald’s supply chain.

Gathering Details

The company likely will have to gather details and data from its franchised locations, along with customers and suppliers, to measure if and how their practices may be contributing to social and racial inequities. About 95% of the company’s locations are franchised and employ their own staff, which means they make individual decisions on hiring and pay.

McDonald’s Chief Executive Officer Chris Kempczinski said during the meeting that the company had raised wages at its company-owned locations, but that didn’t include those franchise stores. Last year, the average wage was increased to $13 an hour, but the company declined to give an updated figure for 2022.

A group of Black franchisees has demanded that the company do more to aid current minority franchisees who are facing systemic barriers to their success. McDonald’s meanwhile has been trying to increase diversity in its corporate leadership, and has vowed to shift more spending to minority-owned suppliers.

Related:

  • Wisconsin McDonald’s Operator Settles EEOC Race Discrimination Claim
  • McDonald’s to Pay Black Store Owner $33.5 Million in Bias Suit
Copyright 2025 Bloomberg.

Was this article valuable?

Thank you! Please tell us what we can do to improve this article.

Thank you! % of people found this article valuable. Please tell us what you liked about it.

Here are more articles you may enjoy.

Ken Griffin-Backed Florida Bill for Non-Competes Becomes Law
Three Insurers Join Ward’s Annual Top 50 P/C Ranking for 2025
Travelers Q2 Net Income Soars on Less Losses, Favorable Reserves
AIG-logoFormer Lloyd’s CEO Neal to Lead General Insurance as President at AIG

Written By Leslie Patton

More From Author

Written By Scott Deveau

More From Author

The most important insurance news,
in your inbox every business day.

Get the insurance industry's trusted newsletter

Email This Subscribe to Newsletter
  • Categories: National NewsTopics: employment practices, environmental social governance (ESG, McDonald's
  • Have a hot lead? Email us at newsdesk@insurancejournal.com
More News
Cayman Islands Approves 21 New International Insurance Licenses During H1
Former Tennessee Agent Sentenced For Continuing to Sell Insurance Products
People Moves: Aon Appoints Key Leaders in EMEA Commercial Risk Team; AXA XL Promotes Wilkinson to Head of International Casualty, Retail, UK & Lloyd’s
Trump Nominates Two Lawyers to Seal Republican Control of US Labor Board
More News Features

Read This Next

  • McDonald's Investors Demand Civil Rights Audit in Close Vote
  • Heavy Rains and Flash Flooding Inundate Northeast Roads and Neighborhoods
  • Honduran Woman Sentenced for Defrauding NorGUARD of Comp Premiums
  • Nebraska Sues GM Over Alleged Unauthorized Collection of Driving Data
  • Marsh Suit Against Alliant Alleges Poaching of Commercial Surety Team, Accounts

Insurance Jobs

  • Vice President of Life Operations - Lansing, MI
  • Director of Property Liability Claims - Wilsonville, Oregon
  • Director, SEC Reporting - Chicago, IL
  • Ocean Marine Underwriter, Account Executive - New York, NY
  • Outside Sales Executive, Small Commercial (SoCal Territory) - Diamond Bar, CA
MyNewMarkets
  • How Embedded Insurance Supports Real Livelihoods in the Growing On-Demand Economy
  • How to Keep Third-Party Events from Becoming First-Party Losses
  • Is It Covered: Auto Coverage Under a CGL Policy
  • When Harassment Follows You Home: Managing EPL Risk in a Remote Work Era
  • Trouble Brewing? 6 New Risks for Winery and Brewery Clients
Claims Journal
  • Los Angeles Sues Airbnb for Alleged Price Gouging Following Wildfires
  • Singapore Says Cyber Espionage Group Targeting Critical Infrastructure
  • UK Court Rules JP Morgan Must Stop Greek Lawsuit Against Viva Directors
  • Tesla Settled Over Autopilot Crash With Truck Crossing Highway
  • Judge Allows US Authors Suing Anthropic to Band Together in Copyright Class Action
Academy of Insurance education
  • July 22 How To Write: Umbrella
  • July 24 Navigating The Impact of Hospital Closures on Workers' Compensation
  • July 31 In The Wake: Personal Lines Issues After a Huge Storm
  • August 7 EPLI Basics

Insurance News

  • News by Region
  • News by Topic
  • Yesterday

Site Search

Features

  • Insurance Markets Directory
  • Forums
  • A.M. Best Company Ratings
  • Industry Events
  • Agencies For Sale
  • Newswire
  • Insurance Jobs
  • Rankings & Awards

Connect with us

  • Email Newsletters
  • Magazine Subscriptions
  • For Your Website
  • RSS Feeds
  • Twitter
  • Facebook
  • LinkedIn
  • Do Not Sell My Info

Insurance Journal

  • Submit News
  • Advertise
  • Subscribe
  • Reprints
  • Link to Us
  • Contact Us

Wells Media Group Network

  • Insurance Journal
  • MyNewMarkets.com
  • Claims Journal
  • Insurance Journal TV
  • Academy of Insurance
  • Carrier Management
© 2025 by Wells Media Group, Inc. Privacy Policy | Terms & Conditions | Site Map