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McDonald's veteran Borden named finance chief in executive shake-up

·1 min read
FILE PHOTO: McDonald's Corp. reports fourth quarter earnings

(Reuters) -McDonald's Corp on Monday named company veteran and president of its international business, Ian Boren, as finance chief, succeeding incumbent Kevin Ozan, who will retire from the burger chain in mid-2023.

Borden, who has been with the company for 30 years, will take charge on Sept. 1, while Ozan, who has been CFO since 2015, will move on to lead the company's strategic initiatives until his retirement.

Borden has previously overseen McDonald's businesses in the Asia-Pacific, the Middle East and Africa and was also managing director of McDonald's Ukraine.

The company said its global chief supply chain officer Francesca DeBiase will retire in August and be replaced by North America supply chain head Marion Gross.

The shake up of the top management by Chief Executive Chris Kempczinski, who took over the reins of the world's largest burger chain in 2019, comes as the company battles surging costs and the threat of customers cutting back on orders due to inflation.

Chief Global Impact Officer Katie Fallon, who leads its environmental, social, and governance, will also leave the company next month, McDonald's said.

(Reporting by Uday Sampath in Bengaluru; Editing by Anil D'Silva and Arun Koyyur)