Summary
McDonald's Corporation (MCD) announced significant leadership changes effective September 1, 2022. Kevin Ozan will transition from his role as Chief Financial Officer (CFO) to a newly created position as Senior Executive Vice President, Strategic Initiatives. This move aims to leverage Mr. Ozan's expertise in a strategic capacity for the company. Concurrently, Ian Borden has been promoted to Executive Vice President and CFO. Mr. Borden, with nearly 28 years of experience within McDonald's, most recently served as President of the International division. His extensive financial and leadership background across various international markets positions him well for this critical role. The Compensation Committee will review Mr. Borden's compensation arrangements, with any material adjustments to be disclosed.
Key Highlights
- 1Kevin Ozan stepping down as CFO to focus on strategic initiatives.
- 2Ian Borden promoted to Executive Vice President and Chief Financial Officer.
- 3Mr. Borden has a long tenure of nearly 28 years with McDonald's in various leadership roles.
- 4The CFO transition is effective September 1, 2022.
- 5The Compensation Committee will review and potentially adjust Mr. Borden's compensation.
- 6No reportable related-party transactions or family relationships concerning Mr. Borden.
- 7A press release detailing these changes was furnished as an exhibit.