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Posted 14 February, 2023

Restaurant Brands International Limited Partnership appointed Joshua Kobza as new CEO

OTC:RSTRF appointed new Chief Executive Officer Joshua Kobza in a 8-K filed on 14 February, 2023.


  On February 14, 2023, Restaurant Brands International Inc. (the "Company" or "RBI") announced that the Board of Directors (the "Board") has appointed Joshua Kobza to succeed José E. Cil as Chief Executive Officer of the Company, effective March 1, 2023, as part of its ongoing succession process.  

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Overview of Restaurant Brands International Limited Partnership
Leisure/Arts/Hospitality • Restaurants
Restaurant Brands International LP engages in the provision of restaurant service. It operates through the following segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). The TH segment offer quick service restaurants with a menu that includes premium blend coffee, tea, espresso-based hot and cold specialty drinks, fresh baked goods, including donuts, Timbits®, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, and soups. The BK segment includes flame-grilled hamburgers, chicken, and other specialty sandwiches, french fries, soft drinks, and other food items. The PLK segment focuses on the “Louisiana” style menu featuring fried chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other regional items. The FHS segment refers to hot and hearty subs piled high with quality meats and cheese as well as chopped salads, chili and soups, signature and other sides, soft drinks, and local specialties. The company was founded in 1954 and is headquartered in Toronto, Canada.
Market Cap
$39.0B
View Company Details
Restaurant Brands International Limited Partnership by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


(b), (c) and (e) 

On February 14, 2023, Restaurant Brands International Inc. (the "Company" or "RBI") announced that the Board of Directors (the "Board") has appointed Joshua Kobza to succeed José E. Cil as Chief Executive Officer of the Company, effective March 1, 2023, as part of its ongoing succession process. Mr. Cil will transition to become an advisor for a period of one year, commencing as of such date. 

Mr. Kobza has held the position of Chief Operating Officer of RBI since January 2019. Mr. Kobza, 36, previously served as Chief Technology Officer and Development Officer of the Company from January 2018 to January 2019, and as Chief Financial Officer of the Company from December 2014 to January 2018. From April 2013 to December 2014, Mr. Kobza served as Executive Vice President and Chief Financial Officer of Burger King Worldwide. Mr. Kobza joined Burger King Worldwide in June 2012 as Director, Investor Relations, and was promoted to Senior Vice President, Global Finance in December 2012. Prior to joining Burger King Worldwide, Mr. Kobza held various positions in the financial services industry. 

In connection with his appointment as Chief Executive Officer, the Board approved an increase to Mr. Kobza's annual salary from $840,000 to $900,000, and an increase to his annual target bonus opportunity from 185% to 200% of his annual salary. Mr. Kobza's existing Employment and Post Covenants Agreements with the Company, Burger King Company LLC ("BKC") and The TDL Group Corp. ("TDL"), each dated February 9, 2015 as previously amended as of January 23, 2019 will be amended as necessary to reflect these changes. All other terms of these agreements, as previously disclosed, remain in effect. Additionally, Mr. Kobza is being granted 300,000 performance share units that vest in May 2028 with the same performance targets as the performance share units granted to Patrick Doyle when he became Executive Chairman in November 2022 as disclosed in the Company's Current Report on Form 8-K filed on November 16, 2022, which disclosure is incorporated herein. 

In connection with Mr. Cil's transition, the Company will modify his existing Employment and Post Covenants Agreements with the Company, BKC and TDL by terminating the agreements with RBI and TDL and amending his agreement with BKC to reflect his new role. In this position he will receive an annual base salary of $200,000 and will not participate in any annual incentive programs. The Company has also entered into a separation agreement with Mr. Cil pursuant to which the Company agreed to provide COBRA coverage for up to 18 months after his term as advisor, and Mr. Cil provided the Company with a full release. 

There are no arrangements or understandings between Mr. Kobza and any other persons pursuant to which Mr. Kobza was selected as the Chief Executive Officer of the Company. There are no family relationships between Mr. Kobza and any director or executive officer of the Company and Mr. Kobza does not have a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended, nor are any such transactions currently proposed. 

A copy of the press release issued by the Company on February 14, 2023, announcing Mr. Kobza's appointment as Chief Executive Officer is attached as Exhibit 99.1 hereto.