"I love the restaurant industry. These are four exceptional brands with real opportunities for accelerated growth," said Doyle, in a statement.
"I am confident we can create one of the most compelling growth stories in the industry."
Doyle was chief executive at
Doyle's new role will come with an equity package of two million options granted at fair market value and vesting in five years, 500,000 restricted share units vesting over roughly the same period and 750,000 performance share units that will pay out if RBI meets targets.
Doyle's appointment comes as quick-serve restaurants are facing a massive labour crunch, worker demands for higher wages and supply chain challenges, including higher food costs, a lettuce shortage and inflation levels not seen in decades.
At the same time, they are grappling with customers who have not returned to the office five days a week and are thus, not taking as many coffee breaks or buying lunches as frequently.
Sales at downtown
In response to the economic headwinds and shifting consumer habits,
RBI is hoping Doyle can help the company get through the economic conditions and reinvigorate the business' 29,000 restaurants.
The company said it went with Doyle because at Domino's he led "one of the restaurant industry's most successful transformations by focusing on putting the guest experience first and being the best at digital ordering and food quality."
Doyle delivered 29 consecutive quarters of same store sale increases, system-wide sales growth jumped from
But some feel RBI should temper its expectations.
"His time at Dominos was during an economic upturn. So far, he hasn't proven his abilities during an economic downturn," said
She suspects Doyle will have to pay attention to raising prices, products that may or not fit to the Canadian palate and the higher customer wait times that come with fewer employees.
Quick-service restaurant growth is also likely to come under pressure generally.
"The closer we get to full recovery of the food service visits lost during the pandemic, the slower growth will be," said
McNeish said
"I can see why they brought in someone who has experience in turning around another restaurant chain," she said.
"However, I think that Doyle reflects the continued Americanization of
RBI chief executive
With Doyle on board, Cil said the company will "rapidly accelerate growth in the company and deliver on plans that result in exceptional service for our guests; and excellent returns for our franchisees and for all shareholders."
Franchisee relations have been a sore spot for RBI in the past. In the years leading up to the pandemic, it had several public spats with franchisees over cost-cutting measures, delays in supply deliveries and a
Yet the company's share price did not plummet amid the strife. It hovered between
It rose almost seven per cent to
This report by The Canadian Press was first published
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