Restaurant Brands International Management

Management criteria checks 2/4

Restaurant Brands International's CEO is Josh Kobza, appointed in Mar 2023, has a tenure of 1.17 years. total yearly compensation is $28.97M, comprised of 3.1% salary and 96.9% bonuses, including company stock and options. directly owns 0.19% of the company’s shares, worth CA$87.02M. The average tenure of the management team and the board of directors is 4.6 years and 3.3 years respectively.

Key information

Josh Kobza

Chief executive officer

US$29.0m

Total compensation

CEO salary percentage	3.1%
CEO tenure	1.2yrs
CEO ownership	0.2%
Management average tenure	4.6yrs
Board average tenure	3.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Josh Kobza's remuneration changed compared to Restaurant Brands International's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$1b
Dec 31 2023	US$29m	US$890k	US$1b
Sep 30 2023	n/a	n/a	US$911m
Jun 30 2023	n/a	n/a	US$1b
Mar 31 2023	n/a	n/a	US$1b
Dec 31 2022	US$13m	US$832k	US$1b
Sep 30 2022	n/a	n/a	US$958m
Jun 30 2022	n/a	n/a	US$819m
Mar 31 2022	n/a	n/a	US$842m
Dec 31 2021	US$12m	US$771k	US$838m
Sep 30 2021	n/a	n/a	US$750m
Jun 30 2021	n/a	n/a	US$674m
Mar 31 2021	n/a	n/a	US$521m
Dec 31 2020	US$16m	US$677k	US$486m
Sep 30 2020	n/a	n/a	US$560m
Jun 30 2020	n/a	n/a	US$616m
Mar 31 2020	n/a	n/a	US$652m
Dec 31 2019	US$17m	US$644k	US$643m
Sep 30 2019	n/a	n/a	US$641m
Jun 30 2019	n/a	n/a	US$574m
Mar 31 2019	n/a	n/a	US$599m
Dec 31 2018	US$2m	US$600k	US$612m
Sep 30 2018	n/a	n/a	US$844m
Jun 30 2018	n/a	n/a	US$801m
Mar 31 2018	n/a	n/a	US$724m
Dec 31 2017	US$5m	US$600k	US$626m

Compensation vs Market: Josh's total compensation ($USD28.97M) is above average for companies of similar size in the Canadian market ($USD8.28M).

Compensation vs Earnings: Josh's compensation has increased by more than 20% in the past year.

CEO

Josh Kobza (36 yo)

1.2yrs

Tenure

US$28,967,541

Compensation

Mr. Joshua Kobza, also known as Josh, had been Chief Operating Officer at Restaurant Brands International Inc., the General Partner of Restaurant Brands International Limited Partnership since January 23,...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
J. Doyle	Executive Chairman	1.5yrs	no data	0.18% $ 83.5m
Joshua Kobza	Chief Executive Officer	1.2yrs	US$28.97m	0.19% $ 87.0m
Axel Schwan	President of Tim Hortons - Canada & U.S.	4.6yrs	US$8.46m	0.042% $ 19.8m
Thomas Curtis	President of Burger King U.S. & Canada	3.2yrs	US$5.39m	0.0086% $ 4.0m
Sami Siddiqui	Chief Financial Officer	less than a year	US$4.47m	0.061% $ 28.8m
Jacqueline Friesner	Controller & Chief Accounting Officer	9.4yrs	no data	0.048% $ 22.5m
Kendall Peck	Head of Investor Relations	no data	no data	no data
Jill Granat	General Counsel & Corporate Secretary	9.4yrs	US$4.89m	0.13% $ 61.0m
Jeff Housman	Chief People & Services Officer	7.3yrs	no data	0.030% $ 14.0m
Duncan Stanley Fulton	Chief Corporate Officer	5.9yrs	no data	0.0080% $ 3.8m
Chris Brigleb	Head of IR	no data	no data	no data
Katerina Glyptis	President of Tim Hortons US	less than a year	no data	no data

4.6yrs

Average Tenure

49yo

Average Age

Experienced Management: QSR's management team is considered experienced (4.6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
J. Doyle	Executive Chairman	1.5yrs	no data	0.18% $ 83.5m
Alexandre Behring da Costa	Independent Director	10.3yrs	US$140.00k	0.047% $ 22.0m
Maximilien de Limburg Stirum	Independent Director	3.9yrs	US$132.16k	0% $ 0
Thecla Sweeney	Independent Director	2.3yrs	US$100.00k	0.00043% $ 201.9k
Daniel Schwartz	Independent Director	9.4yrs	US$100.00k	0.44% $ 205.2m
Jason Melbourne	Independent Director	3.7yrs	US$144.33k	0% $ 0
Ali Hedayat	Lead Independent Director	7.8yrs	US$184.33k	0.0015% $ 718.5k
Marc Lemann	Independent Director	2.9yrs	US$100.00k	0.0047% $ 2.2m
Cristina Farjallat	Independent Director	1.3yrs	US$375.89k	no data
Jordana Fribourg	Independent Director	less than a year	US$336.66k	no data

3.3yrs

Average Tenure

51yo

Average Age

Experienced Board: QSR's board of directors are considered experienced (3.3 years average tenure).

Restaurant Brands International Management

Management criteria checks 2/4

Key information

Recent management updates

Restaurant Brands International Inc. Announces CFO Changes

Restaurant Brands International Inc. Announces CFO Changes

Chief Executive Officer recently sold CA$3.7m worth of stock

Chief Executive Officer recently sold CA$1.8m worth of stock

Chief Financial Officer recently sold CA$1.5m worth of stock

Insider recently sold CA$3.3m worth of stock

Recent updates

First quarter 2024 earnings: EPS and revenues exceed analyst expectations

Restaurant Brands International Inc. Announces CFO Changes

Restaurant Brands International Inc. Announces CFO Changes

Upcoming dividend of US$0.58 per share

Chief Executive Officer recently sold CA$3.7m worth of stock

Fourth quarter dividend of US$0.58 announced

Restaurant Brands International Inc. Declares Dividend for the First Quarter of 2024, Payable on April 4, 2024

Price target increased by 12% to CA$108

Full year 2023 earnings: EPS exceeds analyst expectations

Restaurant Brands International Inc. (NYSE:QSR) entered into an agreement to acquire remaining 85% stake in Carrols Restaurant Group, Inc. (NasdaqGS:TAST) from Cambridge Franchise Holdings, LLC and others for approximately $470 million.

Restaurant Brands International Inc. (NYSE:QSR) entered into an agreement to acquire remaining 85% stake in Carrols Restaurant Group, Inc. (NasdaqGS:TAST) from Cambridge Franchise Holdings, LLC and others.

Restaurant Brands International Inc. (NYSE:QSR) entered into an agreement to acquire unknown remaining majority stake in Carrols Restaurant Group, Inc. (NasdaqGS:TAST) from Cambridge Franchise Holdings, LLC and others

Chief Executive Officer recently sold CA$1.8m worth of stock

Restaurant Brands International Inc. to Report Q3, 2024 Results on Nov 05, 2024

Upcoming dividend of US$0.55 per share at 3.0% yield

Restaurant Brands International Inc. Declares Dividend for the Fourth Quarter of 2023, Payable on January 4, 2024

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of US$0.55 per share at 3.3% yield

Restaurant Brands International Inc. to Report Q3, 2023 Results on Nov 03, 2023

Restaurant Brands International Inc. (NYSE:QSR) announces an Equity Buyback for $1,000 million worth of its shares.

Restaurant Brands International Inc. has completed a Follow-on Equity Offering.

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

Price target increased by 17% to CA$106

Restaurant Brands International Inc. to Report Q2, 2023 Results on Aug 08, 2023

Upcoming dividend of US$0.55 per share at 2.9% yield

Chief Financial Officer recently sold CA$1.5m worth of stock

Insider recently sold CA$3.3m worth of stock

First quarter 2023 earnings: EPS in line with analyst expectations despite revenue beat

Price target decreased by 7.5% to CA$83.47

Upcoming dividend of US$0.55 per share at 3.6% yield

Insider recently sold CA$123k worth of stock

Restaurant Brands International Inc. Declares Dividend for the First Quarter of 2023, Payable on April 5, 2023

Full year 2022 earnings: Revenues and EPS in line with analyst expectations

Restaurant Brands International Inc. to Report Q4, 2022 Results on Feb 14, 2023

Chief Executive Officer recently sold CA$1.9m worth of stock

High number of new directors

Restaurant Brands International Inc. Announces Board Changes

Upcoming dividend of US$0.54 per share

McWin Food Ecosystem Fund managed by McWin sro completed the acquisition of BK SEE Poland S.A. from Restaurant Brands International Inc. (NYSE:QSR).

Insider recently sold CA$1.3m worth of stock

Investor sentiment improved over the past week

Restaurant Brands International Inc. announced that it expects to receive $30.385 million in funding from LODGEPOLE 231 LLC

High number of new directors

Price target increased to CA$86.88

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Restaurant Brands International Inc. Declares Dividend, Payable January 4, 2023

Now 21% undervalued

Restaurant Brands International Inc. to Report Q3, 2022 Results on Nov 03, 2022

Chief Financial Officer recently sold CA$1.2m worth of stock

Upcoming dividend of US$0.54 per share

McWin Food Ecosystem Fund managed by McWin sro agreed to acquire BK SEE Poland S.A. from Restaurant Brands International Inc. (NYSE:QSR).

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Restaurant Brands International Inc. Declares Dividend for the Third Quarter of 2022, Payable on October 5, 2022

Restaurant Brands International Inc. to Report Q2, 2022 Results on Aug 04, 2022

Upcoming dividend of US$0.54 per share

Restaurant Brands International Inc. Declares Dividend for the Second Quarter of 2022, Payable on July 6, 2022

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

High number of new directors

Restaurant Brands International Inc. to Report Q1, 2022 Results on May 03, 2022

Upcoming dividend of US$0.54 per share

Now 20% undervalued after recent price drop

Insider recently sold CA$1.4m worth of stock

Insider recently sold CA$89k worth of stock

Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

Restaurant Brands International Inc. Provides Dividend Guidance for the for 2022

Chief Executive Officer recently sold CA$1.3m worth of stock

Restaurant Brands International Inc. (NYSE:QSR) completed the acquisition of Firehouse Restaurant Group, Inc.

Upcoming dividend of US$0.53 per share

Third quarter 2021 earnings released: EPS US$0.71 (vs US$0.48 in 3Q 2020)