STATEMENT: Treasurer Summers’ Statement on McDonald’s Vote to Give Shareholders a Stronger Voice

Chicago City Treasurer Kurt Summers today released the following statement after McDonald’s shareholders voted in favor of a proposal to allow “proxy access,” which would allow long-term investors to have a greater voice in corporate governance. Yesterday, the Treasurer signed a joint letter ​with New York Comptroller Scott Stringer, New York State Comptroller Thomas DiNapoli, and California Controller Betty Yee voicing support for proxy access at all American corporations, including McDonald’s.

“McDonald’s shareholders today sent a clear message that they desire a greater voice in corporate governance to ensure that its board remains accountable to its workers and responsive to its long-term investors.  By adopting a proxy access proposal, the fast-food giant joins more than a dozen American companies who are leading the way to corporate growth, rather than short-term financial fixes.

“I was happy to join our nation’s largest public institutional investors on a joint letter illustrating our support for proxy access at all American corporations in order to achieve a balanced approach to long-term growth. Today I congratulate McDonald’s shareholders on this victory and for getting it right by placing much-needed value on the issues of proper governance and accountable leadership.”

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