BlackRock Opposes McDonald’s Racial Audit While Under One Itself
- Investment manager is expected to vote against proposal
- Fast-food giant says it’s committed to equal opportunity
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BlackRock Inc., which agreed to undergo an independent racial-equity audit last year, is expected to vote against a shareholder proposal for McDonald’s Corp. to do a similar assessment of disparities at its sprawling fast-food chain, according to people familiar with the matter.
As McDonald’s second-largest investor, with 6.8% of shares, BlackRock’s opposition to the proposal makes it more difficult to win approval for the non-binding measure. It wasn’t immediately clear how the biggest shareholder, Vanguard Group Inc., plans to vote.