McDonald’s announced Monday a series of leadership changes, including CFO Kevin Ozan stepping into a newly created position. 

Effective September 1, Ozan will be promoted to senior executive vice president of strategic initiatives, a role in which he will continue to lead the strategy team and several initiatives, up until his retirement by mid-2023. The executive first joined McDonald’s in 1997 after 11 years at Ernst & Young. He worked in multiple financial positions before becoming assistant controller in May 2007 and corporate controller in February 2008. 

He’s served as executive vice president and CFO since March 2015. 

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“I remember meeting Kevin when I first joined McDonald’s. I was struck by his dedication to the System, his low ego, and unflappable judgment,” CEO Chris Kempczinski said in an open letter. “I joked with Kevin that he was the ‘nicest CFO’ I’d ever met, and yet Kevin still set the highest standards for himself and his team. Kevin leads with an incredible combination of head and heart. He’s helped guide our System through so much the last seven years—from onboarding two CEOs, to navigating through COVID, dealing with activist investors and, most recently, our exit from the Russian market. Kevin has seen and done it all.”

Ian Borden, president of McDonald’s international business, will replace Ozan as CFO. He joined the burger chain in July 1994 and has served in multiple roles, including CFO of McDonald’s Russia and Eastern Europe and CFO of Asia Pacific, Middle East, and Africa. He became president of the company’s International Developmental Licensed Markets in July 2015 before rising to president of international in January 2020. 

Under his leadership, International Operated Markets saw same-store sales rise 20.4 percent year-over-year in Q1 and 21 percent on a two-year stack, while International Developmental Licensed Market comps increased 14.7 percent and 21.1 percent on a two-year basis. 

“We often say that our international markets are the growth and idea engine of the System, and in so many ways that is a testament to Ian’s leadership and contributions,” Kempczinski said. “From ambitious digital deployments to delivery and EOTF [Experience of the Future], the markets under Ian’s leadership have been launching pads for some of our most ambitious and impactful moves over the past decade. Ian consistently puts teamwork at the heart of everything he does. His passion and unfailing commitment to talent development has built a strong succession pipeline across the System.”

In addition to those changes, Francesca DeBiasse, global chief supply chain officer since March 2015, is retiring from her position, and Katie Fallon, the brand’s first chief global impact officer, is leaving the restaurant chain. Marion Gross, chief supply chain officer of North America, will assume DeBiasse’s place. As McDonald’s searches for Fallon’s replacement, Ozan will oversee the global impact team in the interim.

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