Jennifer Taubert
MCDONALDSAbout Jennifer Taubert
Jennifer Taubert (age 61) is Executive Vice President and Worldwide Chairman, Innovative Medicine at Johnson & Johnson and has served on McDonald’s Board for 2 years. Her background includes senior leadership of a global pharmaceuticals division and membership on J&J’s executive committee, bringing regulatory/public policy and human capital management expertise to McDonald’s governance. She is currently an independent director at McDonald’s, not serving as a committee chair.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Johnson & Johnson | EVP & Worldwide Chairman, Innovative Medicine | 2018–Present | Executive committee member; extensive regulatory/public policy and HCM experience |
| Johnson & Johnson | Company Group Chairman, The Americas, Pharmaceuticals | 2015–2018 | Led pharmaceuticals across the Americas |
| Johnson & Johnson | Company Group Chairman, North America, Pharmaceuticals | 2012–2015 | Led North America pharmaceuticals |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| — | — | — | McDonald’s discloses no other current public company boards for Taubert |
Board Governance
- Committee memberships: Audit & Finance; Compensation. Not a committee chair. Audit & Finance met 8 times in 2024; Compensation met 4 times in 2024.
- Independence: Board determined all non‑management directors, including Taubert, are independent under NYSE standards and McDonald’s policies.
- Attendance: In 2024, the Board met 7 times; directors attended on average 96% of Board/committee meetings (each ≥75% attendance).
- Executive sessions: Independent directors meet regularly; Chairman presides except on leadership/compensation matters, when the Lead Independent Director presides.
- Outside board service policy: Directors may serve on no more than three other public company boards (in addition to MCD); prior notice/consent required, with resignation offer if notice not provided.
Fixed Compensation
| Component | Program Terms | Taubert 2024 Amount ($) |
|---|---|---|
| Annual cash retainer | $120,000 cash retainer for directors | 120,000 |
| Equity (stock equivalent units) | Annual grant under Directors’ Plan; $205,000 value in 2024; credited at closing price; settled in cash after board service | 203,060 (grant date fair value) |
| Committee chair fees | $30,000 (Audit & Finance Chair); $25,000 (Compensation, Governance, Corporate Responsibility Chairs) | N/A (not a chair) |
| Lead Independent Director premium | Additional $50,000 cash retainer (Miles White in 2024) | N/A |
| Charitable match | Up to $10,000 matched annually | 10,000 |
| Total (2024) | — | 333,060 |
Notes:
- Directors may elect to defer retainers into stock equivalent units; units are payable in cash post‑service with lump sum or installments up to 15 years.
- Directors’ equity awards are common stock equivalent units, not actual shares.
Performance Compensation
- McDonald’s does not disclose performance‑contingent elements for director compensation; director equity is granted as stock equivalent units without performance metrics.
Other Directorships & Interlocks
| Company | Relationship to MCD | Notes |
|---|---|---|
| None | — | McDonald’s lists zero other public company boards for Taubert; Board independence review considers any commercial relationships at employers and found none impairing independence. |
Expertise & Qualifications
- Senior executive experience in global, complex organizations; regulatory/public policy; human capital management; inclusion leadership; management/marketing/finance/business development/global operations (J&J).
- Contribution to Board skill matrix includes brand management, customer‑centricity, finance/capital markets, global experience, HCM, IT/cyber, marketing, sustainability/corporate responsibility.
Equity Ownership
| As of March 1, 2025 | Common Stock (shares) | Stock Equivalents (units) | Total |
|---|---|---|---|
| Jennifer Taubert | 0 | 2,565 | 2,565 |
- Director ownership guidelines: Directors should own shares equal to 5x annual cash retainer within 5 years; McDonald’s states all directors are currently in compliance and prohibits hedging/pledging.
- Observation: Taubert held no direct common shares as of March 1, 2025; holdings consist of cash‑settled stock equivalents under the Directors’ Plan.
Insider Filings
| Filing Date | Form | Key Detail |
|---|---|---|
| 2022-10-07 | Form 3 | Initial statement of beneficial ownership; “No securities are beneficially owned.” |
Related Party Transactions and Conflicts
- Policy: Board reviews/ratifies related person transactions; pre‑approves certain categories; directors must report conflicts; annual review performed.
- Disclosure: Since Jan 1, 2023, no related person transactions >$120,000 in which a related person had a direct/indirect material interest.
- Independence review: Board considered commercial relationships with companies where directors are employees; transactions were arm’s‑length and did not affect independence; all non‑management directors deemed independent.
Shareholder Engagement and Say‑on‑Pay Context
- Engagement: Since last meeting, outreach to shareholders representing ~43% of outstanding shares; independent directors participate.
- Executive pay governance: Robust pay‑for‑performance design for executives; not directly applicable to director pay.
Governance Assessment
- Strengths: Independent status; service on key oversight committees (Audit & Finance; Compensation); Board reports strong overall attendance; robust related‑party and independence reviews; restrictions on outside boards and anti‑hedging/pledging policies.
- Alignment considerations: As of March 1, 2025, Taubert held zero direct common shares and only cash‑settled stock equivalents, which may provide less direct “skin‑in‑the‑game” alignment versus owning shares; however, McDonald’s states all directors comply with ownership guidelines and director equity awards track McDonald’s stock performance.
- Conflicts: Executive role at J&J could be a theoretical interlock if commercial ties existed; Board’s annual independence review concluded arm’s‑length relationships and maintained independence; no related‑party transactions reported.
RED FLAGS
- Zero direct share ownership as of March 1, 2025 (ownership solely via cash‑settled stock equivalents). Monitoring for progress toward share ownership guideline compliance is prudent.