SPX4,026.12-1.14 -0.03%
DIA343.52+1.57 0.46%
IXIC11,226.36-58.96 -0.52%

Restaurant Brands International Named Patrick Doyle as Executive Chairman

Benzinga · 11/16/2022 05:02
Restaurant Brands International Inc. ("RBI") (TSX:QSR) (NYSE:QSR) (TSX:QSP) has appointed Patrick Doyle, one of the world's most successful QSR leaders, to become the company's Executive Chairman, effective immediately. The Board of Directors believe that Mr. Doyle will be an important contributor to unlocking growth in the company based on his proven track record doing the same at Domino's Pizza. The appointment follows significant progress and investments at Tim Hortons Canada and Burger King US; strong system-wide sales growth at Burger King internationally and Popeyes; the acquisition of Firehouse Subs and returning to historical global unit growth. As the former CEO of Domino's Pizza from 2010 to 2018, Mr. Doyle led one of the restaurant industry's most successful transformations by focusing on putting the guest experience first and being the best at digital ordering and food quality. During his tenure, he delivered 29 consecutive quarters of same store sale increases, system-wide sales growth of $5.6B to $13B, an over 2x increase in home market franchisee profitability while creating approximately $11B of shareholder value and increasing the share price over 23x from nearly $12 in March 2010 to $271 in June 2018. Daniel Schwartz and Alex Behring will continue to serve on the Board of Directors, demonstrating 3G Capital's commitment to being a long-term shareholder in RBI. Mr. Behring is a co-founder of 3G Capital and is currently co-Managing Partner. Mr. Schwartz is the former CEO and Executive Chairman of RBI and co-Managing Partner of 3G Capital.