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Icahn, who nominated two directors to Kroger’s board in March, is also withdrawing his nominees, he said in a letter to shareholders of both the companies.
“I was surprised and initially disheartened by the disappointing McDonald’s vote,” Icahn said, after the burger chain’s shareholders re-elected all of its directors in May.
The activist investor has criticized Kroger and McDonald’s for their treatment of animals and wage disparities, adding that these campaigns were different from Icahn’s typical fights, given both the companies are performing well financially.
The news was first reported by the Wall Street Journal on Sunday.
