McDonald's Corporation (NYSE: MCD), one of the world’s biggest fast-food chains, has made some changes to its leadership team. The changes were announced by CEO Chris Kempczinski. Following the news, shares of the company declined marginally to close at $247.03 on Monday. Kempczinski announced that Kevin Ozan, the current CFO of the company, has been promoted to the position of Senior Executive Vice-President, Strategic Initiatives. Ozan has been the CFO of the company since 2015. Ian Borden will replace Ozan as the CFO of the company. Borden has also been given the additional responsibility of Executive Vice-President. The appointment will be effective from September 1.
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