Burger King

Financing

With new leadership, Restaurant Brands International charts an aggressive path

Patrick Doyle, and now new CEO Josh Kobza, take the helm at the owner of Burger King, Tim Hortons, Popeyes and Firehouse Subs with a mandate: Speed the company's growth.

Leadership

'I missed it.' Why Patrick Doyle came back to the restaurant business

The former Domino’s CEO, who returned as executive chairman of Burger King owner Restaurant Brands International in November, said he is “all in” with his new position.

The 11-year company veteran, who had been COO, will take over for José Cil on March 1. Cil will remain with the Burger King and Tim Hortons parent company for one year as an advisor.

The Bottom Line: Restaurant Brands International, under its new executive chairman and incoming CEO Josh Kobza, said improving profits for its store owners is critical to driving future growth.

Patrick O’Toole will be the burger chain's CMO in the U.S. and Canada as it works to revitalize its brand.

The Bottom Line: The bankruptcy of TOMS King Holdings may be the first domino in a substantial change in the burger chain’s franchisee base as it looks to turn itself around.

TOMS King Holdings, which operates 90 locations in Illinois, Ohio, Pennsylvania and Virginia, blamed the pandemic for hurting traffic and inflation for draining cash flow.

The former McDonald’s executive was named head of the Burger King franchisee last year. Anthony Hull was named interim chief executive.

The Bottom Line: Restaurant Brands International was formed in 2014 for aggressive growth. But challenges at its two biggest brands have held it back.

The former Domino’s CEO will make a $30 million investment in the owner of Burger King, Popeyes, Tim Hortons and Firehouse and will get options worth close to $200 million.

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