Dive Brief:
- McDonald’s has promoted CFO Kevin Ozan to senior executive vice president, strategic initiatives, where he will lead the strategy team and spearhead several initiatives and partner with CEO Chris Kempczinski, the company announced Monday. Ozan plans to retire from McDonald’s in mid-2023.
- Ian Borden, current president, international, will become EVP and CFO, effective Sept 1, and will relocate to Chicago.
- McDonald’s also promoted Marion Gross, chief supply chain officer of North America, to EVP, global chief supply chain officer, effective Sept. 1, following Francesca DeBiase’s retirement on Aug. 31.
Dive Insight:
These executive changes, while separate, take place against a larger backdrop of the company's shifting franchising strategy, which include new guidelines and a performance-based grading system, expected to take effect next year. These new executives will face ongoing supply chain shortages and inflationary conditions, which led to McDonald’s to increase menu prices 8% in Q1 2022.
While these executives will fill roles left by industry veterans, each brings significant experience from their previous positions. Ozan has been with McDonald’s since 1997 and became CFO in 2015. In this position, he onboarded two CEOs, navigated the company through the pandemic, dealt with activist investors and helped withdraw McDonald’s from Russia, Kempczinski said.
Borden first joined the company in Canada in 1994, serving in several roles in international markets, including CFO for Asia-Pacific, Middle East and Africa as well as CFO for Russia and Eastern Europe, Kempczinski said. He’s also held several leadership and P&L roles.
“On our Senior Leadership Team, he has championed and fostered closer and more effective collaboration across our markets to execute our strategy with great success while also navigating unpredictable challenges with agility and purpose,” Kempczinski said. “For these reasons, and so many more, this makes Ian an exceptional leader for our Finance organization as our next CFO.”
DeBiase will retire from a position she’s held since 2015 and after 30 years at the company. She first joined McDonald’s in 1991. Under her leadership, McDonald’s was able to navigate through supply chain challenges, Kempczinski said.
Gross has also been with the system for almost as long, serving 29 years thus far. She first managed several national product categories prior to taking on strategic supply chain initiatives at 36 distribution centers. In her most recent position, Gross was responsible for overseeing strategic direction at McDonald’s supply chain in the U.S. and Canada.
Clarification: This article has been updated to clarify the executive changes within the context of McDonald's shifting franchising strategy.
