Doyle will function the corporate’s govt chairman, taking a 500,000-share stake within the firm as cost. The shares are valued at about $30 million.
In accordance with the information report, Tim Hortons and Burger King have struggled lately because of the pandemic. RBI just lately pledged $400 million to assist Burger King’s operations and promoting.
Doyle left Domino’s in 2018.
“The success of a predominantly franchise restaurant enterprise begins and ends with the success of the franchisees,” Doyle stated within the report.
Doyle will obtain extra shares based mostly on efficiency tied to RBI’s share value growing over 5 years, the corporate stated in a press release. Doyle will earn extra shares if RBI’s inventory hits at the least $81.32 inside 5 years and he’ll obtain extra if inventory hits $122, stated the corporate in a submitting.