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  "docId": "019de072-c272-76c4-92e4-2cebd50c7113",
  "docSlug": "ea1174443bfce555b4cd1420b4d59d5c",
  "documentTitle": "Icahn Enterprises | Activist Presentation Deck | 65 slides",
  "authorId": "icahn-enterprises",
  "authorName": "CAWS",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-05-01 00:00:00",
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  "pageNumber": 5,
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  "slideType": "problem_statement",
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  "density": "balanced",
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  "notes": "This is a classic activist 'problem statement' slide, framing the board's failure as a pattern of broken promises.",
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      "kind": "callout",
      "text": "We believe McDonald's needs independent directors who will drive the Company’s commitments to ESG, including animal welfare, forward and protect shareholders’ interests because the current Board has historically failed to do so.",
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      "kind": "paragraph",
      "text": "This broken promise, as well as other supply chain and environmental, social and governance (“ESG”) issues – such as egregious executive compensation – pose serious risks to the Company and indicate a pattern of failures in the Board’s much-touted ESG efforts.",
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      "kind": "paragraph",
      "text": "We hope McDonald's recognizes it has a profound opportunity to be a leader in ESG and sustainability matters in the food and restaurant industry. This campaign can be an inflection point for sweeping change and a moment for shareholders to back up ESG platitudes with real action.",
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      "kind": "paragraph",
      "text": "McDonald's' Board failed to deliver on a 10-year-old commitment made to Carl Icahn and other stakeholders to eliminate the usage of cruel gestation crates in its supply chain.",
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      "kind": "title",
      "text": "WHY WE ARE HERE TODAY",
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      "evidence": "Frames the Board as the antagonist failing to deliver on promises.",
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