McDonald's must break 'dinosaur' culture to stop the rot, experts warn | Business | The Guardian

McDonald's must break 'dinosaur' culture to stop the rot, experts warn | Business | The Guardian: "The average tenure of McDonald’s governance committee, which is responsible for appointing new directors, is 17 years.
McDonald’s paid more than $150m to companies linked to three of the company’s longest serving board members.
Ten of McDonald’s 13 non-executive directors are from the Chicago business community.
Eight of the 13 non-executive directors had a direct connection with a board member before they joined.
McDonald’s non-executive chairman, Andrew McKenna, is still chairman at 85, despite being meant to retire in 2003 when he reached the company’s then mandatory retirement age of 73.
Analysis of McDonald’s proxy statements reveals that the company’s three longest-serving directors – McKenna, Roger Stone and Enrique Hernandez – have been involved in more than $150m of related person transactions, in which McDonald’s paid companies linked to the directors. The payments were legal and publicly disclosed."



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