RBI CEO says plans to expand Tim Hortons abroad unfazed by geopolitics
TORONTO — The CEO of the parent company of Tim Hortons said Monday he plans to keep pushing with an international expansion of the coffee-and-doughnut chain despite softness in the quick-service restaurant industry as well as political unrest and economic uncertainty abroad.
Daniel Schwartz, head of Restaurant Brands International Inc. (TSX:QSR), said he wasn’t fazed by geopolitical storms such as Britain’s vote to leave the European Union or the recent election in the Philippines of President Rodrigo Duterte, who has come under criticism for his approach to human rights.
“We would expect to start seeing restaurants from (Tim Hortons) in those markets next year,” Schwartz said in an interview, adding that it takes time to establish the brand’s supply chain and infrastructure in new regions.
This summer, RBI announced plans to push the Philippines, which would be the company’s first foray into Southeast Asia, and Britain but had not set out any timelines.