Strive Urges McDonald's To Set Discrimination Aside And Put Shareholders First
Portfolio Pulse from Benzinga Newsdesk
Strive, representing McDonald's shareholders, has expressed concerns over the company's diversity policies, which it deems potentially illegal and value-destroying. Strive highlights the legal and business risks associated with McDonald's adoption of race- and gender-based targets, and the potential lawsuits and regulatory actions that could follow. It also points out the financial risks, as studies show that hiring based on race and sex rather than merit does not improve financial performance. Strive urges McDonald's to rescind its diversity targets and commit to merit-based decision-making.
July 19, 2023 | 6:03 pm
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McDonald's is facing criticism from Strive, representing its shareholders, over its diversity policies. Strive argues these policies are potentially illegal and value-destroying, posing legal, regulatory, and financial risks.
The criticism from Strive, representing McDonald's shareholders, could potentially lead to legal and regulatory actions against the company. This, coupled with the argument that the diversity policies do not improve financial performance, could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100