Tim Hortons President Leaving
CBJ — The president of Tim Hortons Canada is leaving the company in March after the restaurant chain failed to live up to corporate expectations.
Although the official statement says Alex Macedo has chosen to leave on his own accord, it seems as if the parent company, Restaurant Brands International, was not pleased with recent performance results at Canada’s leading coffee-and-doughnut chain.
Axel Schwan, who had been appointed regional president of Tim Hortons for Canada and the U.S. in October, will now join RBI’s global leadership team. Schwan will add the Latin America region to his duties, while other international Tim Hortons locations will be led through RBI’s existing global leadership team.
Macedo will remain available until March to ensure a smooth transition but it sounds as if he won’t have a whole lot of work to deal with in the New Year unless specifically called upon.
CEO Jose Cil said third-quarter earnings at Tim Hortons “were not where we want them to be,” particularly due to lunch options, such as sandwiches and wraps.
Tim Hortons’ Beyond Meat burgers certainly didn’t last long on the menu, with few people ordering those specialty foods. In fact, the added menu that promoted alternative protein products lasted just two months despite heavy promotion across the country.