Dive Brief:
- Restaurant Brands International appointed Sami Siddiqui, president of Popeyes U.S. and Canada, as its CFO. Siddiqui succeeds Matt Dunnigan, who is leaving the company, the company said Thursday in a press release.
- Jeff Klein, Popeyes’ chief marketing officer, has been promoted to president of Popeyes U.S. and Canada. Thiago Santelmo has become president of international at RBI, succeeding David Shear, who will remain at RBI as an advisor and help with the transition.
- RBI CEO Josh Kobza said these appointments, which are effective immediately, will support the company’s long-term growth and goal of reaching at least 40,000 restaurants, $60 billion in systemwide sales and $3.2 billion in adjusted operating income by 2028.
Dive Insight:
RBI is primed for significant growth. During 2023, the company posted systemwide sales growth of 12.2%, reaching $42.9 billion in sales. Consolidated comparable sales were up 8.1% while net restaurant growth rose 3.9%, with total restaurants over 31,000. The new leadership positions, which were internal promotions, could further the company’s momentum.
Siddiqui has been with RBI for 11 years, originally joining as head of finance and investor relations before becoming brand CFO for Tim Hortons and then Burger King. His past roles also included president, Asia Pacific and president of Tim Hortons Canada.
He most recently served as president of Popeyes U.S. and Canada, a role he had been in for four years. In this role, Popeyes achieved a record level of sales, unit growth and profitability, per the press release. Popeyes U.S. ended Q4 with same-store sales increases of 5.8% and net restaurant growth of 4.5%, per the company’s earnings call.
“Sami has deep finance and operational experience which makes him a great partner to our Presidents as we deliver on our growth plans across the company,” Kobza said.
Santelmo joined RBI 11 years ago when his initial focus was on growing the Latin American market as general manager for the region, and he eventually became president for the region. Santelmo most recently served as president of EMEA for two years. During that time, he helped the company enter new countries and developed new master franchisee partnerships.
“Thiago has spent his career building master franchisee relationships and working closely with them to develop new markets,” Kobza said. “This will serve him well as we accelerate net restaurant growth internationally in the coming years.”
Klein most recently joined Popeyes two years ago in his role as CMO and has 25 years of experience in marketing and consumer interest, per the press release. Prior to Popeyes, he served as CMO for Little Caesars Pizza and spent 15 years at PepsiCo in various marketing positions.
The company said it will name a new president of EMEA and anew Popeyes CMO in the near future.
