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January 24, 2019

Restaurant Brands reports 5.5% restaurant net growth in FY2018

Multinational company Restaurant Brands International (RBI) has reported a 5.5% increase in consolidated net restaurant growth for the fiscal year ending 31 December 2018 (FY2018).

Multinational company Restaurant Brands International (RBI) has reported a 5.5% increase in consolidated net restaurant growth for the fiscal year ending 31 December 2018 (FY2018).

The operator of the Burger King and Tim Hortons chains, RBI has pre-released its fourth quarter and full year comparable sales and net restaurant growth.

Comparable sales of the company’s Burger King restaurants increased by 2%, Tim Hortons by 0.6% and Popeyes by 1.6% during FY2018.

The company has also promoted its CEO Daniel Schwartz to the position of executive chairman and co-chairman of RBI’s board of directors.

Schwartz will handle talent acquisition, capital allocation and major strategic initiatives for RBI in his new role.

“I look forward to continuing to grow franchisee profitability and provide our guests an exceptional brand experience when they visit our restaurants.”

Prior to this, he served in the roles of CFO and CEO with the company over the past eight years.

RBI has also promoted Burger King president Jose Cil to the role of RBI CEO.

In this new role, he is responsible for handling the growth of Burger King, Tim Hortons and Popeyes restaurants worldwide, increasing franchisee profitability and enhancing guest experience.

Cil said: “I’m excited by the challenge of this new role and I’m thankful to Daniel and my other partners for the vote of confidence to lead RBI on our next journey of growth.

“We have three amazing brands, a talented team with an ownership mindset, and passionate, dedicated franchisees that I believe will help us accelerate our long-term growth around the world.

“Profitable owners and happy guests are the bedrock of our business and I look forward to continuing to grow franchisee profitability and provide our guests an exceptional brand experience when they visit our restaurants.”

RBI chief financial officer Josh Kobza has also been promoted to the role of chief operating officer.

He will be responsible for overseeing new international franchise partnerships and the implementation of the company’s technology initiatives, as well as focus on ensuring the RBI’s various operational teams support the growth of the company’s three brands globally.

RBI currently operates more than 25,000 restaurants, including 4,846 Tim Hortons locations, 17,796 Burger King locations and 3,102 Popeyes restaurants.

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