Restaurant Brands International (NYSE:QSR) announced Wednesday that it is hiring former Domino’s Pizza (NYSE:DPZ) CEO Patrick Doyle as its executive chair.
Doyle, 59, was chief executive of Domino’s from 2010 to 2018, and oversaw the pizza chain’s transformation into a digital powerhouse in the restaurant industry. When he took the reins of the company, its shares were trading at under $12. By the time of his departure, the stock was trading at more at $270 per share.
“This is an opportunity for me to work closely with someone who has had an incredible track record in the restaurant industry, one of the most successful runs ever,” Restaurant Brands CEO Jose Cil told the media.
Doyle’s appointment comes as Restaurant Brands tries to turn around Burger King’s U.S. business. The chain has lagged behind rivals in its home market and is investing in marketing and menu improvements to revive sales.
Restaurant Brands is also looking to step up its digital efforts at its chains, which also include Tim Hortons, Popeyes and Firehouse Subs. In its latest quarter, digital transactions accounted for roughly a third of system-wide sales across the company. In contrast, Domino’s generated more than half of global retail sales from digital transactions last year, largely thanks to steps taken during Doyle’s tenure.
QSR began Wednesday up $5.33, or 6.7%, to $84.71
