Tim Hortons president Alex Macedo to step down next year

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Tim Hortons president Alex Macedo to step down next year

Alex Macedo, president of coffee and breakfast chain Tim Hortons will be stepping down from his position after two years of the role, according to Restaurant Brands International Inc (RBII) on Friday.

Macedo said in a regulatory filing that he will be leaving the company in March 2020. RBII also said that Axel Schwan, who was named as the regional president of Tim Hortons for Canada and the U.S. in October, would oversee the Latin American region as well.

Meanwhile, Tim Hortons’ remaining international operations will be led by the company’s existing global leadership team.

The company’s biggest chain has been struggling to enhance sales in the competitive breakfast space despite adding a new menu including coffee and breakfast sandwiches.

Tim Hortons' performance had hurt RBII’s September-quarter performance, while its other fast-food chains including Burger King and Popeyes did well.

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