Restaurant Producers Worldwide Inc. said on Friday Alex Macedo, president of espresso and breakfast chain Tim Hortons, is perhaps stepping down after two years inside the place.
Macedo could be eligible for severance benefits and might be leaving the company in March subsequent yr, the Canadian restaurant operator said in a regulatory submitting.
Restaurant Producers moreover said Axel Schwan, who was named regional president of Tim Hortons for Canada and america in October, would oversee the Latin America space as correctly.
Tim Hortons’ remaining worldwide operations is perhaps led by the company’s current worldwide administration group.
The company’s largest chain has been struggling to develop product sales in a aggressive breakfast space no matter together with new espresso and lunch decisions, whereas rolling out breakfast sandwiches with Previous Meat Inc.’s plant-based sausages in select Canadian cities.
Restaurant Producers’ September-quarter outcomes have been hurt by Tim Hortons’ effectivity, whereas its totally different fast-meals chains Burger King and Popeyes did correctly.