Paul House, the corporation’s executive chairman and former president and CEO, has been appointed to serve as Interim CEO until the Board of Directors completes its succession planning and appoints someone to permanently fill the role.
“Don Schroeder has made significant contributions to Tim Hortons during his 20 years of service, and, although a transitional arrangement could not be reached, we appreciate his leadership as president and CEO since his appointment in 2008. On behalf of the Board, our restaurant owners and our employees, I would like to thank Don for his two decades of service,” said House.
“We have a talented, experienced and highly capable executive group, and we will continue to drive execution of our established strategic growth plans and initiatives, which are designed to capitalize on market opportunities, as the Board concludes the process to appoint a new CEO,” he added.
The Board will commence the next phase of its succession planning process by conducting a comprehensive internal review and external search. Although the timing of the completion of the process cannot be determined with certainty, the Board’s objective is to make an appointment as soon as “practical.”