May 19th, 2011
McDonald's stockholders reject obesity report proposal
McDonald’s Corp (MCD.N) investors rejected a shareholder proposal that would have required the world’s biggest fast-food chain to issue a report outlining its role in childhood obesity and other health matters.
McDonald’s shares gained 54 cents, or 0.67 percent, to $82.04 after the vote results were announced on Thursday morning at the company’s annual meeting.
McDonald’s recommended a “no” vote on the proposal, which would have required the company to assess its “policy responses to public concerns regarding linkages of fast food to childhood obesity, diet-related diseases and other impacts on children’s health.”
McDonald’s, which faces increasing criticism for using toys to market to children, allows parents to swap milk or juice for soda in its Happy Meals. It also offers sliced apples with caramel sauce and chicken nuggets instead of French fries and hamburgers.
Backers of the proposal included the Sisters of St. Francis of Philadelphia and Catholic Health East, a major provider of home healthcare services.