對麥當勞的熱議愈演愈烈。

該公司周一公布，11月份全球同店銷售額下降2.2%，美國業務跌幅最猛（下跌4.6%）。《華爾街日報》（The Wall Street Journal）報道，這是逾14年來麥當勞美國同店銷售額的最大下滑。

上個月我詳細介紹了麥當勞的困境，并且指出，為讓這家快餐巨擘扭轉頹勢，首席執行官唐?湯普森正面臨巨大的壓力。而由于看不到任何緩解的跡象，投資者的注意力可能很快就會轉向麥當勞董事會。

作為董事會首腦人物，安迪?麥肯納1991年當選公司董事，2004年成為非執行董事長。在芝加哥，麥肯納是個大人物，當地媒體稱他為“王座背后的力量”。《芝加哥》雜志（Chicago Magazine）把麥肯納評為100名最有影響力的芝加哥人之一，并將他描述為“其他大人物尋求建議的大人物”。他是芝加哥白襪（White Sox）和芝加哥小熊（Cubs）棒球俱樂部的董事長，現在又進入了橄欖球俱樂部芝加哥熊隊（Chicago Bears）的董事會。他還在眾多民間機構和公司擔任董事，包括美國圣母大學（University of Notre Dame）和天主教芝加哥總教區Big Shoulders基金。

公司文件顯示，麥肯納原計劃于2003年退出董事會，那一年他73歲，到了該公司規定董事退休的年齡。然而，由于當時麥當勞正在更換CEO，董事會邀請麥克納留任，以協助完成交接。

2004年，麥當勞放寬了董事退休限制，稱董事會“可以在特殊情況下提名年齡超過73歲的現任董事”。那一年，麥當勞高層厄運連連。CEO吉姆?坎塔盧波因心臟病突然離世。繼任者查理?貝爾也因診斷出結腸癌而辭職。

2007年，又有兩名麥當勞董事到了73歲，而強制退休規定已經了無蹤跡。現在，麥肯納已經和六位不同的CEO共過事。

麥當勞提交的最新名單顯示，超過73歲的董事有三名，分別是84歲的麥肯納、76歲的沃爾特?馬瑟和79歲的羅杰?斯通。公司治理數據供應商MSCI ESG Research發現，麥當勞董事會的平均年齡為63歲，高于其他任何同類企業，比如漢堡王（Burger King，約50歲）、星巴克（Starbucks，約58歲）和百勝餐飲集團（Yum Brands，約59歲）。和其他大型餐飲企業8年的董事任期相比，麥當勞董事的任期也更長，達到了12年。

將麥當勞和更大的企業群體，比如標普500指數（S&P 500）成分股公司相比，類似的差異同樣存在。田納西大學企業治理中心（University of Tennessee’s Corporate Governance Center）研究員拉里?福韋發現，麥當勞董事的平均任期為12年半，而這個數字在標普500指數成分股公司中為9年半。他說：“這個差距相當大。”

這一點為什么很重要呢？簡而言之就是，這關乎與顧客的聯系。盡管和年輕人相比，年逾七八旬的董事可能經歷了更多也更有經驗，但他們和千禧一代以及年輕家庭的聯系也許不像前者那么緊密，而這兩個群體正是麥當勞真正需要并且正在竭力爭取的目標顧客。特拉華大學John L. Weinberg企業治理中心（John L. Weinberg Center for Corporate Governance at the University of Delaware）主任查爾斯?埃爾森指出：“這就是為什么需要給董事會注入活力，他們需要有嶄新的面貌。”

福韋還有另一層顧慮：長期任職的董事會成員和管理層的距離可能不足以讓他們客觀看待公司的表現及其面臨的挑戰。他問道：“當了23年的董事后，你還會有多少獨立性呢？”

撰寫11月份的文章時，我和麥當勞董事長麥肯納進行了短暫的交流，他告訴我，董事會“非常支持”CEO湯普森。我也向他提出了關于董事會和董事任期的問題。他回答說，他覺得任職時間并不會削弱任何董事的獨立性。直到本文發表時，麥當勞沒有應要求就此發表評論。

The heat on McDonald’s just got turned up a notch.

On Monday the company reported a 2.2% decline in global same store sales for the month of November, with the U.S. market taking the biggest hit (-4.6%). The Wall Street Journal reported that the drop in the U.S. was the biggest in more than 14 years.

I detailed McDonald’s woes last month, noting that the pressure was mounting on CEO Don Thompson to turn around the fast food giant. But with no relief in sight, investors may soon turn their attention to the McDonald’s board.

Leading the group is Andy McKenna, the company’s non-executive chairman since 2004 and a director since 1991. McKenna is a Chicago heavy hitter, who has been called “the power behind the throne” by the hometown press. Chicago Magazine has put him on its list of the 100 Most Powerful Chicagoans, describing him as “a bigwig other bigwigs seek out for advice.” He has chaired the White Sox and Cubs, and is now on the board of the Chicago Bears. He has also sat on countless other civic and corporate boards, including the University of Notre Dame and the Big Shoulders Fund of the Archdiocese of Chicago.

According to company filings, McKenna planned to leave the board in 2003 when he reached McDonald’s mandatory retirement age for directors of 73. But in the interim the company went through a CEO handoff, and the board asked McKenna to stay on to aid in the transition.

The following year McDonald’s loosened the retirement rule in its proxy, saying that the board “may nominate existing members of the board over the age of 73 as candidates in exceptional circumstances.” McDonald’s was then struck by misfortune in its leadership ranks. CEO Jim Cantalupo died of a heart attack while in the job. His successor, Charlie Bell, was then diagnosed with colon cancer and resigned.

By 2007, when two additional board members hit 73, the language about mandatory retirement had disappeared. McKenna has now overlapped with the tenures of six different McDonald’s CEOs.

As of the most recently filed proxy, three board members were over 73: McKenna (listed as 84), Walter Massey (76), and Roger Stone (79). MSCI ESG Research, which provides data on governance, found that the average age of a director at McDonald’s is about 63, the oldest in its peer group. Compare the figure with Burger King (about 50), Starbucks (about 58), and Yum Brands (about 59). McDonald’s directors also have a longer tenure (12 years) than those on other big restaurant company boards (eight years).

A similar spread can be found when one compares McDonald’s with an even bigger corporate universe, such as the S&P 500. Larry Fauver of the University of Tennessee’s Corporate Governance Center found that the average number of years served by a director at McDonald’s was 12.5 versus 9.5 for the broader index. “That’s a fairly significant difference,” he told me.

Why does this matter? In a few words: connection to the company’s customers. While octogenarian and late septuagenarian directors may have more seasoning and worldly experience than young Turks, there is an argument to be made that they may not be quite as in touch with the two demographic segments that McDonald’s really needs and is struggling to attract: millennials and young families. “That’s why you need a refreshed board,” says Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware. “You need to take fresh looks.”

Fauver adds another concern: Board members who have been around that long may not have enough distance from management to be objective about the company’s performance and challenges. “How independent are you after 23 years?” Fauver asks.

I spoke with McDonald’s chair McKenna briefly for my November story, in which he told me that the board is “very supportive” of CEO Thompson. I also asked McKenna about the board and its tenure. He replied that that he didn’t think length of service had deprived any of the directors of their independence. McDonald’s did not respond to a request for comment in time for publication of this story.