Josh Kobza named CEO of Restaurant Manufacturers International

Restaurant Brand names International, the proprietor of Burger King, Tim Hortons, Popeyes and Firehouse, has named Josh Kobza CEO. / Photo courtesy of Burger King.

Restaurant Makes Intercontinental on Tuesday named Josh Kobza CEO, a shift that arrives just months following the owner of Burger King, Popeyes, Tim Hortons and Firehouse Subs employed former Domino’s CEO Patrick Doyle to be its new govt chairman.

Kobza, an 11-12 months firm veteran who was most not too long ago RBI’s chief functioning officer, will choose above for José Cil as element of its “ongoing succession arranging method.” Cil, who had been CEO considering the fact that 2019, will keep on being with RBI for just one year as an advisor.

“Over the previous quite a few many years, the board of administrators has worked with management to create a considerate succession program for important positions, so this is a purely natural changeover for Josh to guide our up coming stage of progress,” Doyle explained in a statement.

Kobza was main monetary officer for the business among 2013 and 2018, when he was integral to the combination of Burger King and Tim Hortons that made RBI. He was then named main know-how officer before he was presented the COO title in 2019. Kobza worked on the acquisitions of Popeyes in 2017 and then Firehouse in 2021.

The transfer ends Cil’s four-year tenure and the stop of his virtually two-decade tenure with the company. He guided RBI by way of the pandemic, the acquisition of Firehouse and the revitalization of Tim Hortons. He was also CEO of the company as Popeyes launched its rooster sandwich, the most pivotal new product or service introduction in contemporary marketplace heritage.

Cil was named the Restaurant Leader of the Year in 2021.

But Burger King U.S. struggled coming out of the pandemic and its personal hen sandwich introduction was a flop, prompting the corporation to make a $400 million investment guiding its revitalization. Burger King’s U.S. very same-retailer income rose 5% in the U.S., RBI said Tuesday. Huge Burger King operator Toms King declared personal bankruptcy previously this yr.

RBI last yr shockingly lured Doyle to turn into the company’s government chairman. At the time, RBI’s now-former co-chairs claimed the move was created to speed up development and “drive shareholder returns that we believe this firm is incredibly able of providing.”

RBI’s inventory cost was down extra than 3% in pre-market buying and selling on Tuesday.

“We’ve built wonderful progress over the earlier couple yrs and I’m really happy of the workforce we have developed at RBI,” Cil explained in a assertion.

RBI on Tuesday reported systemwide revenue growth of 13% in 2022, thanks in part to the addition of additional than 1,200 world places to eat. Similar-keep sales for the company’s 4 models rose 8% in the fourth quarter when the company’s earnings rose 21% to $3.25 per share. Earnings rose 9% to $1.7 billion.

Similar-keep revenue rose 11% at Burger King internationally. Popeyes U.S. similar-retail store sales rose 1.5%. Tim Hortons’ identical-retail store gross sales in Canada enhanced 11% on the back of that brand’s comeback. At Firehouse, very same-retail store profits rose 1%.

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