RBI appoints former Domino's CEO Patrick Doyle as Executive Chairman to accelerate growth

Restaurant Brands International Limited Partnership

Doyle appointed Executive Chairman effective Nov 16, 2022; will purchase 500,000 RBI shares (~$30M) in private placement, held for 5 years.
Receives one-time equity: 2M options (vest 5yr), 500K RSUs (ratable 5yr), 750K PSUs (5.5yr, target 10% CAGR in share price).
Doyle previously CEO of Domino's (2010-2018), doubling system sales to $13B and creating ~$11B in shareholder value.
No base salary or annual bonus; compensation is entirely equity-based and tied to long-term performance.
Current co-Chairmen Schwartz and Behring remain on board; CEO Jose Cil to work closely with Doyle.

item 1.01 item 5.02 item 9.01

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Appointed

J. Patrick Doyle

Executive Chairman

RSTRF · Restaurant Brands International Limited Partnership

Effective: 2022-11-16
Filed: November 16, 2022, 6:59 PM ET

On November 16, 2022, RBI announced that the Board of Directors of RBI appointed J. Patrick Doyle to become Executive Chairman of RBI.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.98

J. Patrick Doyle was appointed as Executive Chairman at Restaurant Brands International Limited Partnership.

Action: appointed
Role: Executive Chairman

Exact text from the filing

On November 16, 2022, RBI announced that the Board of Directors of RBI appointed J. Patrick Doyle to become Executive Chairman of RBI.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Restaurant Brands International Limited Partnership entered into stock purchase agreement with J. Patrick Doyle and Lodgepole 231 LLC valued at 500,000 common shares (effective 2022-11-15).

Action: entry
Agreement: equity purchase
Counterparty: J. Patrick Doyle and Lodgepole 231 LLC
Value: 500,000 common shares
Effective: 2022-11-15

Exact text from the filing

On November 15, 2022, Restaurant Brands International Inc. (“RBI”) and Lodgepole 231 LLC, a Delaware limited liability company of which J. Patrick Doyle is the sole member, entered into a stock purchase agreement for the purchase of 500,000 common shares of RBI in a private placement at a price per share equal to the average closing price on the New York Stock Exchange for the five trading days preceding the agreement.

View on SEC.gov

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Restaurant Brands International Limited Partnership filing history →

Source: SEC EDGAR

accession 0001618755-22-000050

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