Billionaire activist investor Carl Icahn has set his sights on McDonald’s, picking a corporate fight with the fast-food giant over the treatment of pigs sourced for its U.S. pork supply.
In 2012, McDonald’s made a splashy commitment to end the use of gestation stalls — small crates used to house pregnant pigs — by 2022.
The Humane Society of the United States said at the time that the move was “a bit of an earthquake in the world of pork industry.”
But McDonald’s has yet to make good on the promise. The company said Sunday that Icahn had nominated two people for election to its board.
In recent years, activist investors have used the tactic to not only seek higher profits, but also align companies with their ethical or political stances.
A group of investors led by a hedge fund called Engine No. 1 successfully won a third seat on the board of ExxonMobil in June.