Kevin Ozan

Kevin Ozan
Born	Kevin M. Ozan
Nationality	American
Occupation	Corporate executive, finance executive
Title	Former Senior Executive Vice President, Strategic Initiatives
Employer	McDonald's Corporation
Known for	Former Chief Financial Officer of McDonald's Corporation
Education	University of Michigan Ross School of Business (BBA, 1985)

Kevin M. Ozan is an American corporate finance executive who served as the Chief Financial Officer (CFO) of McDonald's Corporation, one of the world's largest foodservice companies, from March 2015 until September 2022. During his tenure as CFO, Ozan played a central role in the financial strategy that helped McDonald's return to sustained growth after a period of stagnation, overseeing initiatives that modernized the company's approach to technology, delivery, and restaurant experience. A graduate of the University of Michigan Ross School of Business, where he earned his Bachelor of Business Administration in 1985, Ozan spent decades at McDonald's in progressively senior finance roles before ascending to the CFO position. In June 2022, McDonald's CEO Chris Kempczinski announced that Ozan would be promoted to the newly created role of Senior Executive Vice President of Strategic Initiatives, transitioning from the CFO position to lead the company's strategy team and oversee special corporate projects. Beyond his corporate career, Ozan has been recognized for his philanthropic contributions, including a $3 million gift to Michigan Ross to establish undergraduate scholarships.

Education

Kevin Ozan attended the University of Michigan Ross School of Business, where he earned a Bachelor of Business Administration (BBA) degree in 1985. The Ross School of Business, one of the premier undergraduate business programs in the United States, provided Ozan with a foundation in finance and accounting that would underpin his career in corporate financial management. Ozan has maintained a strong connection to his alma mater throughout his professional life, serving in advisory capacities and contributing financially to the institution. His relationship with Michigan Ross culminated in a significant philanthropic commitment in 2023, when he established a $3 million scholarship fund for undergraduate students at the school.

Career

Early Career at McDonald's

Kevin Ozan built his career within McDonald's Corporation, spending decades at the company in a series of increasingly senior finance and accounting positions. Prior to becoming CFO, Ozan held multiple leadership roles within McDonald's financial organization, gaining extensive experience across the company's global operations. His long tenure at the company provided him with deep institutional knowledge of McDonald's business model, franchise system, and financial architecture.

Chief Financial Officer of McDonald's (2015–2022)

Ozan was appointed Executive Vice President and Chief Financial Officer of McDonald's Corporation effective March 2015. His appointment came during a critical period for the company, which had been experiencing declining same-store sales and was facing increased competition from both traditional fast-food rivals and emerging fast-casual restaurant chains. Ozan's elevation to the CFO role coincided with a broader leadership transition at McDonald's, as the company sought to revitalize its brand and restore financial momentum.

In a January 2019 interview with McKinsey & Company, Ozan discussed McDonald's growth strategy and the financial thinking behind the company's turnaround efforts. He provided insights into what initiatives were working, what challenges remained, and what the company planned for its future, offering a detailed perspective on how McDonald's was approaching its competitive environment and operational transformation. The interview highlighted Ozan's role not merely as a financial steward but as a strategic partner in shaping the company's direction. He addressed McDonald's investments in technology, including self-order kiosks and digital platforms, as well as the company's efforts to improve restaurant modernization and delivery capabilities.

During Ozan's tenure as CFO, McDonald's pursued several major strategic initiatives. The company undertook an extensive refranchising program, converting many company-operated restaurants to franchise-operated locations, which altered the company's revenue mix and cost structure. This shift was intended to create a more asset-light business model with higher margins and more predictable cash flows. Ozan oversaw the financial dimensions of this transformation, which had significant implications for McDonald's balance sheet, capital allocation strategy, and return-of-capital programs for shareholders.

McDonald's also made substantial investments in technology and digital ordering during this period. The company acquired several technology companies and invested heavily in mobile ordering, delivery partnerships, and drive-through innovations. Ozan's role as CFO required him to evaluate and manage the financial impact of these investments, balancing near-term spending against long-term growth potential.

The company's financial performance during Ozan's CFO tenure reflected the success of many of these strategic choices. McDonald's returned to consistent comparable-sales growth after the difficulties of the mid-2010s, and the company's stock price appreciated significantly over the period. Ozan's financial leadership was a key component of the management team that achieved this turnaround under successive CEOs.

Senior Executive Vice President, Strategic Initiatives (2022)

On June 27, 2022, McDonald's Corporation announced a series of leadership changes that included the promotion of Kevin Ozan to the newly created position of Senior Executive Vice President of Strategic Initiatives. In this role, Ozan was tasked with leading McDonald's strategy team and overseeing special corporate projects, leveraging his deep knowledge of the company's operations and financial structure to drive long-term strategic planning.

The announcement was made by McDonald's CEO Chris Kempczinski, who communicated the changes to the McDonald's global system in a message that outlined the rationale for the leadership reorganization. As part of the same restructuring, Ian Borden, who had served as President of McDonald's International, was named as Ozan's successor in the CFO role, effective September 1, 2022. Borden, a 28-year veteran of McDonald's, brought extensive international operational experience to the finance position. Additionally, Marion Gross was promoted to the role of Global Chief Supply Chain Officer as part of the same announcement.

The creation of the Strategic Initiatives role for Ozan was seen as a recognition of his institutional knowledge and strategic acumen. Rather than departing the company after transitioning out of the CFO role, Ozan was retained in a senior capacity that allowed McDonald's to continue benefiting from his experience. The move also reflected a broader trend in large corporations of creating senior strategic roles for experienced executives who can contribute beyond traditional functional responsibilities.

Industry coverage of the leadership changes noted that the transition was orderly and planned, with Ozan working alongside Borden during the transition period to ensure continuity in McDonald's financial management.

Philanthropy

In October 2023, Ozan made a $3 million gift to the University of Michigan Ross School of Business to establish the Kevin Ozan Undergraduate Scholarship. The scholarship was created to support undergraduate students at Michigan Ross, reflecting Ozan's commitment to making business education more accessible. As a 1985 BBA graduate of the school, Ozan credited his Michigan Ross education with providing a strong foundation for his career in corporate finance.

The $3 million gift was among the more significant individual contributions to undergraduate scholarship programs at Michigan Ross. The university announced the scholarship through its official news channels, highlighting Ozan's career achievements at McDonald's and his longstanding relationship with the institution. The scholarship represented a continuation of Ozan's engagement with Michigan Ross, where he had previously been involved in advisory and mentorship roles with the school.

Ozan's philanthropic activity at Michigan Ross also positioned him within a broader tradition of successful business alumni giving back to the institution. The scholarship was designed to benefit future generations of business students, with the endowed funds providing ongoing support for undergraduate education at the school.

Recognition

Kevin Ozan's tenure as CFO of McDonald's Corporation brought him significant visibility within the corporate finance community. His role in overseeing the financial dimensions of McDonald's turnaround strategy, including the company's refranchising program, technology investments, and capital allocation decisions, positioned him as one of the more prominent CFOs in the consumer and retail sector during his time in the role.

His January 2019 interview with McKinsey & Company, in which he discussed McDonald's growth strategy and the factors driving the company's renewed financial performance, was widely circulated in business and finance circles. The interview provided a public-facing articulation of McDonald's financial strategy that drew attention from investors, analysts, and industry observers.

Ozan's promotion to Senior Executive Vice President of Strategic Initiatives in 2022 was covered by multiple business and industry publications, including CFO Dive, Restaurant Dive, Nasdaq, and PR Newswire, reflecting the significance of the leadership change at one of the world's largest restaurant companies.

His $3 million scholarship gift to the University of Michigan Ross School of Business in 2023 was recognized by the university as a major philanthropic contribution, further establishing his profile as a business leader committed to supporting higher education.