On Friday, Restaurant Brands International stated that Alex Macedo, President of the Canadian coffee and breakfast chain Tim Hortons, will step down from his position after two years in the role.
Macedo shall be leaving in March 2020 and will be eligible for severance benefits according to a regulatory filing.
Axel Schwan, the regional president of Tim Hortons Canada and United States as of October, will be overseeing Latin America as well, according to Restaurant Brands.
The remaining international operations of the Canadian coffee and breakfast chain shall be led by the existing global leadership team.
The breakfast space has become quite competitive and the company’s biggest chain is struggling to push sales in spite of newer lunch and coffee offerings. They have also launched breakfast sandwiches made of plant-based Beyond Meat sausages in select cities in Canada.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.
