McDonald’s promotes Ian Borden to CFO in series of appointments
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McDonald’s promotes Ian Borden to CFO in series of appointments

McDonald’s promotes Ian Borden to CFO in series of appointments

Borden first joined the McDonald’s system in Canada in 1994 and served in several international roles

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McDonald’s Corp. named Ian Borden as its new chief financial officer starting September 1, part of a trio of promotions as the company deals with challenges to its global supply chain.

Borden – currently the company’s president for international operations – will replace Kevin Ozan, who is becoming senior executive vice president for strategic initiatives. Ozan is replacing Francesca DeBiase, who is retiring as of August 31, the hamburger chain said in a statement on Monday.

Marion Gross, the supply-chain chief for North America, will assume that role on a global basis starting September 1.

The changes come as McDonald’s is navigating what chief executive officer Chris Kempczinski has called “an increasingly complex and uncertain operating environment.” While diners are still spending to eat out, consumers are grappling with soaring inflation at the gas pump and in the grocery aisle. McDonald’s also recently pulled out of Russia and is dealing with supply-chain disruptions and a tight labour market.

Both Ozan and DeBiase had been in their roles since March 2015. Gross has been at McDonald’s for 29 years, the company said. Borden first joined the McDonald’s system in Canada in 1994 and served in several international roles, including as CFO for Russia and Eastern Europe.

McDonald’s shares were little changed in premarket trading on Monday. The shares have declined 7.5 per cent this year through Friday.

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