TORONTO — Restaurant Brands International (RBI) has announced Tim Hortons’ global president, Alex Macedo, has elected to leave the company in March 2020.
Macedo will be eligible for severance benefits and signed a non-competition agreement, RBI said in a filing to the Securities and Exchange Commission. In the meantime, Macedo will stay on in his role to smooth the transition to new leadership.
“Alex was invaluable in establishing a strong growth trajectory for Burger King in the United States and led Tim Hortons through a period of transition earlier last year,” says Jose Cil, CEO of RBI.
The announcement comes on the same day Axel Schwan was appointed to the global leadership team of RBI. Schwan was named regional president of Tim Hortons in Canada and the U.S. in October and will add the Latin America region to his accountabilities.
“I’m proud to welcome Axel to the leadership team. I’ve worked closely with him in Europe, the U.S. and now in Canada and he has proven himself to be a valuable leader of our Tim Hortons business, as well as a strong leader of people and teams,” says Cil.