Restaurant Brands International Inc on Tuesday named a new chief executive as it accelerates a turnaround plan for its struggling Burger King brand.
And in November, Restaurant Brands brought in Patrick Doyle as executive chairman. Doyle led a major turnaround at Domino's when he ran that chain until 2018.
"There are definitely some operators that have been struggling," Kobza told Reuters in a phone interview. "If there have to be restructurings, we're going to be intimately involved in those," to help set the franchisees up for success, he said.So far this year, Restaurant Brands has brought Burger King's general managers together, meeting with them in every U.S. region. Restaurant remodels will begin this year and ramp up in 2024, Kobza said.
Like other fast food companies, Toronto, Canada-based Restaurant Brands has been grappling with elevated costs of transportation, labor and raw materials, and has had to raise prices of its menu items over the past year. Excluding items, Restaurant Brands earned 72 cents per share, compared with expectations of 73 cents.
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