Restaurant Brands (NYSE:QSR) stock is in the news Tuesday following news of Joshua Kobza taking on the role of CEO at the company.
Kobza has been appointed by the Board of Directors to be the next CEO of Restaurant Brands. This will see him take on that mantle at the start of March to fulfill the company’s succession plan.
Kobza is replacing outgoing CEO José Cil. However, Cil will continue to remain on board at Restaurant Brands for one year as an advisor to the new CEO, in order to confirm a smooth transition.
The appointment of Kobza as CEO comes after several years in leadership positions at Restaurant Brands. Joshua Kobza served as the CFO of the company from 2013 to 2018, the Chief Technology Officer and Development Officer from 2018 to 2019 and the Chief Operating Officer from 2019 to 2023.
Joshua Kobza said the following about the CEO news in a press release:
“I am excited to lead the company and work closely with our business Presidents to put our franchisees at the center of our success and accelerate the growth we know our brands are capable of.”
QSR Stock Movement Today
Shares of QSR stock are seeing heavy trading today following the CEO news. This has some 2 million shares on the move as of this writing. That’s already above the company’s daily average trading volume of about 1.4 million shares.
QSR stock is down 4.3% as of Tuesday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
