Kevin Ozan

Kevin Ozan
Born	Kevin Ozan
Birthplace	United States
Nationality	American
Occupation	Business executive, corporate finance leader
Title	Senior Executive Vice President, Strategic Initiatives (2022)
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 Ozan is an American business executive who served as the Executive Vice President and Chief Financial Officer of McDonald's Corporation, one of the world's largest foodservice companies, from March 2015 until September 2022. Over the course of more than three decades at McDonald's, Ozan played a central role in the company's financial strategy during a period of significant transformation, including the implementation of its "Velocity Growth Plan" and subsequent growth initiatives that helped revitalize the brand's financial performance. In June 2022, McDonald's CEO Chris Kempczinski announced that Ozan would be promoted to the role of Senior Executive Vice President, Strategic Initiatives, where he would lead the company's strategy team and oversee key corporate priorities. A graduate of the University of Michigan's Ross School of Business, Ozan has also been recognized for his philanthropic contributions to his alma mater, including a $3 million gift to establish undergraduate scholarships.

Education

Kevin Ozan earned his Bachelor of Business Administration (BBA) degree from the University of Michigan's Ross School of Business in 1985. His undergraduate education at one of the United States' leading business schools provided a foundation in finance and accounting that would define his subsequent career trajectory. Ozan has maintained a strong connection with the Ross School of Business throughout his professional life, serving in advisory and philanthropic capacities in the years following his graduation. In October 2023, he made a $3 million gift to Michigan Ross to establish an undergraduate scholarship program, underscoring his commitment to supporting future generations of business students at the institution.

Career

Early career at McDonald's

Kevin Ozan built his career within McDonald's Corporation, spending more than three decades at the company in various finance and leadership roles. Over the course of his tenure, he gained extensive experience across the organization's financial operations, rising through the ranks of the corporation's finance department. His long career at a single company allowed him to develop deep institutional knowledge of McDonald's global business model, including its franchise operations, supply chain economics, and international market dynamics.

Chief Financial Officer (2015–2022)

Ozan was appointed Executive Vice President and Chief Financial Officer of McDonald's Corporation effective March 2015. His appointment to the CFO role came during a pivotal period for the company, as McDonald's was in the early stages of a significant strategic turnaround under new leadership. The company had been facing declining same-store sales and increased competition from both fast-casual restaurant chains and other quick-service competitors.

In a January 2019 interview with McKinsey & Company, Ozan discussed the company's growth strategy and the factors that contributed to McDonald's return to sustained growth. In the interview, he provided insight into the company's approach to reinvigorating its business, addressing what was working, what was not, and the direction the company was heading. Ozan's tenure as CFO coincided with the rollout and execution of McDonald's "Velocity Growth Plan," a comprehensive strategy that focused on retaining existing customers, regaining lapsed customers, and converting casual customers into more frequent visitors. The plan also included substantial investments in digital ordering, delivery partnerships, restaurant modernization through the "Experience of the Future" redesign initiative, and menu innovation.

As CFO, Ozan was responsible for overseeing the financial dimensions of these strategic initiatives, including capital allocation decisions, cost management, and communication with investors and analysts on Wall Street. He served as a key spokesperson for McDonald's financial performance during quarterly earnings calls and investor presentations, providing detailed commentary on the company's revenue trends, margin performance, and return of capital to shareholders through dividends and share repurchases.

Ozan's financial leadership also encompassed the management of McDonald's global refranchising strategy, through which the company converted a significant number of company-operated restaurants to franchised operations. This strategic shift was designed to create a more asset-light business model, reduce operational complexity, and improve the company's overall return on invested capital. The refranchising effort had substantial implications for the company's financial statements, affecting revenue recognition, operating margins, and capital expenditure levels.

During Ozan's years as CFO, McDonald's experienced a notable improvement in its financial performance. The company reported growth in comparable sales across its major market segments, and its stock price reflected the market's confidence in the turnaround strategy. Ozan played a central role in translating the company's operational improvements into financial results that met or exceeded investor expectations.

Promotion to 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 from the CFO role to the newly created position of Senior Executive Vice President, Strategic Initiatives. In this new capacity, Ozan was tasked with leading the company's strategy team and overseeing key corporate functions and strategic priorities. The announcement was made by McDonald's CEO Chris Kempczinski in a message to the McDonald's Global System.

As part of the same leadership 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 the company, brought extensive international operational experience to the finance leadership 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 Senior Executive Vice President, Strategic Initiatives role for Ozan reflected McDonald's recognition of his deep knowledge of the company's operations and his ability to contribute to high-level strategic planning beyond the traditional scope of financial management. In this position, Ozan was expected to play a significant role in shaping the company's long-term direction, including its approach to digital transformation, restaurant development, and market expansion.

Multiple industry publications covered the leadership transition. Nasdaq reported on the appointment of Ian Borden as Ozan's successor, noting the broader context of the leadership changes within the McDonald's executive team. CFO Dive characterized the transition as part of a broader leadership shuffle at the fast-food chain, emphasizing Borden's nearly three decades of experience at the company. Restaurant Dive noted that in his new role, Ozan would lead the strategy team and drive key corporate initiatives, suggesting that the company valued his strategic perspective beyond his financial expertise.

Views on McDonald's Growth Strategy

In his 2019 interview with McKinsey & Company, Ozan offered a detailed perspective on the factors underpinning McDonald's return to growth after a period of stagnation. He discussed the importance of taking "fast action" to address the company's competitive challenges, a theme that resonated with the company's identity as a fast-food leader. The interview explored topics including the company's approach to menu innovation, digital technology adoption, and the role of the franchise model in driving performance improvements at the restaurant level.

Ozan's public commentary during his tenure as CFO provided insight into the financial philosophy that guided McDonald's strategic investments. He emphasized the importance of balancing near-term financial performance with longer-term investments in the customer experience, technology infrastructure, and brand positioning. His approach reflected a focus on disciplined capital allocation, ensuring that the company's significant investment spending generated measurable returns for shareholders while also strengthening the business for future growth.

Philanthropy

University of Michigan Ross School of Business

In October 2023, Kevin Ozan made a $3 million gift to the University of Michigan's Ross School of Business to establish an undergraduate scholarship program. The gift, made by Ozan as a member of the Ross BBA Class of 1985, was designed to support undergraduate students at the business school. The scholarship, referred to as the Kevin Ozan Scholarship, represented a significant philanthropic commitment to the institution where Ozan had received his undergraduate business education nearly four decades earlier.

The University of Michigan's Ross School of Business highlighted Ozan's career at McDonald's Corporation and his role as former Chief Financial Officer in announcing the scholarship gift. The $3 million endowment was structured to provide ongoing financial support to Ross undergraduate students, reflecting Ozan's stated interest in ensuring that talented students have access to the educational opportunities that the Ross School provides.

Ozan's philanthropic engagement with the University of Michigan extends beyond the scholarship gift. His long-standing relationship with the Ross School of Business includes participation in alumni activities and advisory roles, as documented in his profile on the school's website.

Personal Life

Kevin Ozan is based in Chicago, where McDonald's Corporation maintains its global headquarters. His personal connection to the University of Michigan has been a consistent theme throughout his public life, as evidenced by his continued involvement with the Ross School of Business and his philanthropic support for undergraduate education at the institution. Ozan's professional identity has been closely linked to McDonald's, where he spent the majority of his career, and to the broader Chicago business community.

Recognition

Kevin Ozan's tenure as CFO of McDonald's Corporation placed him among the senior financial leaders of one of the world's largest publicly traded restaurant companies. McDonald's, listed on the New York Stock Exchange under the ticker symbol MCD, is a component of the Dow Jones Industrial Average and one of the most widely followed companies by investors and analysts globally.

Ozan's work at McDonald's was recognized by the University of Michigan's Ross School of Business, which featured him prominently on its alumni profiles. The school highlighted his appointment as Executive Vice President and Chief Financial Officer and his career trajectory within the company. His 2023 scholarship gift further strengthened his association with the university and served as recognition of his professional accomplishments and commitment to education.

Within the corporate finance community, Ozan's public appearances, including his 2019 interview with McKinsey & Company, positioned him as a thought leader on topics related to corporate growth strategy, financial management in the restaurant industry, and the role of the CFO in driving organizational transformation. His commentary on McDonald's financial strategy was widely covered by business media outlets and served as a reference point for analysts seeking to understand the company's approach to capital allocation and shareholder value creation.

The leadership transition announced in June 2022, in which Ozan was promoted to Senior Executive Vice President, Strategic Initiatives, was itself a form of recognition by McDonald's executive leadership of his contributions to the company. CEO Chris Kempczinski's decision to create a new senior role for Ozan, rather than having him depart the company upon the appointment of a new CFO, indicated the high regard in which he was held within the organization.