Tim Hortons CEO Unexpectedly Departs

By Bizclik Editor

 

Tim Hortons' Board of Directors announced today the start of an active search for a new company CEO. This search is claimed to be part of an extended succession planning process that the company is undertaking in connection with its strategic plans for the future.

Speculated to have been forced out, Don Schroeder is no longer President and CEO. Paul House, Tim Hortons' Executive Chairman and former President and CEO, succeeds Don Schroeder to serve as Interim CEO as the Board pursues a new leader.

“Don Schroeder has made significant contributions to Tim Hortons during his 20 years of service, and although a transitional arrangement could not be reached, we appreciate his leadership as President and CEO since his appointment in 2008. On behalf of the Board, our restaurant owners and our employees, I would like to thank Don for his two decades of service," said Paul House, Executive Chairman in a statement.

Conducting a comprehensive internal review and external search, the company’s Board hopes to make an appointment as soon as possible.

SEE RELATED STORIES FROM THE WDM CONTENT NETWORK:

Click here to read the latest edition of Business Review Canada

"The Board has been engaged in a comprehensive succession planning and review process in parallel with the Company's strategic planning work. With a solid strategic foundation in place, the Board has made the determination that the current timing under all circumstances is best-suited to transition CEO leadership," said Frank Iacobucci, Lead Director.

House is confident in the Board’s upcoming decision making process. “We have a talented, experienced and highly capable executive group, and we will continue to drive execution of our established strategic growth plans and initiatives, which are designed to capitalize on market opportunities, as the Board concludes the process to appoint a new CEO," said House.

Paul House has served in senior executive positions at Tim Hortons for more than 25 years and is seen as the perfect transitional CEO by the company. 

Share

Featured Articles

Sustainability, ESG, net zero in focus at must-attend event

Sustainability takes centre stage at two-day hybrid conference featuring thought leaders covering circular economy, scope 3, ESG, B Corp, net zero, DE&I

Must-attend sustainability events for executives in 2022/23

Discuss and debate the most pressing issues around sustainability at these nine executive events – from London to Abu Dhabi, San Diego to Singapore

Meet the CEO on a mission to nurture women leaders in Africa

The argument for women leaders in Africa is compelling, yet numbers are small. But one female leader is on a mission to change that – Awamary Lowe-Khan

BCG's Daniel Weise on supply chain and procurement strategy

Leadership & Strategy

Flexible work perks heat up as the war on talent rages

Human Capital

Meet the COO: Former Israel Defense Force cyber lead Parnes

Technology & AI