Announcement • Jun 10

+ 1 more update

TH International Limited Announces CEO Changes

TH International Limited on 09 June 2026 announced that its Board of Directors has appointed Mr. Kwok Wah Cheung as the Company's Chief Executive Officer effective June 15, 2026, as part of its ongoing succession planning process. Concurrently, Mr. Yongchen Lu will step down as CEO and assume the role of Chairman of the Company. Concurrently, Mr. Yongchen Lu will step down as CEO and assume the role of Chairman of the Company. Mr. Cheung brings over 20 years of experience as a chief executive and president of major consumer businesses in China. He served as Chief Executive Officer of Supor, a leading Chinese manufacturer of cookware and household appliances. Prior to that, he served as Executive Director of China Feihe Limited, one of China's foremost dairy companies, and Chairman & Chief Executive Officer of Nestle's Greater China Region, and Global President of Wyeth Nutrition. Earlier in his career, Mr. Cheung held senior roles at The Coca-Cola Company and Procter & Gamble. He has spent the majority of his career in China since 2000 and brings deep experience in brand building, consumer insights, and operational excellence in the Chinese market. The Board extends its sincere appreciation to Mr. Yu and Mr. Lu for their invaluable guidance, strategic vision and strong execution over the past eight years. Their private equity expertise, cross-border investment experience, long-term value creation mindset and deep understanding in the consumer segment were instrumental in shaping the overall strategy and building the Tim Hortons brand in mainland China. Under their leadership, the Company opened its first store in 2019 and grew to 1,026 system-wide stores across 93 cities in mainland China by the end of March 2026. At the same time, the Company formed and nurtured a loyalty club community that now totals over 35 million members, while establishing the four fundamental cornerstones of the Company – true local relevance, continuous innovation, genuine community, and absolute convenience – that differentiate the brand in China's highly competitive coffee market. The Board and the Company are grateful for Mr. Lu's personal dedication, strategic foresight, and foundational contributions that positioned the Company for sustainable long-term growth. As the new CEO, Mr. Cheung will be responsible for the overall operations of the Group and the implementation of the Board's strategies and policies. Drawing on the strong foundation built by Mr. Lu, he will focus on accelerating existing strategies of deepening localization, continuous innovation, expanding our genuine community, and offering greater convenience through optimized store formats, digital, and delivery.

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TH International Limited Announces Board Changes, Effective June 9, 2026

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