Don Schroeder out as president, c.e.o. at Tim Hortons
OAKVILLE, ONT. — Donald B. Schroeder, formerly president and chief executive officer of Tim Hortons Inc., has left the company. The board of directors of Tim Hortons Inc. has begun its search for a new c.e.o. Paul House, the company’s executive chairman and former president and c.e.o., has been named as interim c.e.o. until the board completes its succession planning process and appoints a new c.e.o.
“Don Schroeder has made significant contributions to Tim Hortons during his 20 years of service, and although a transitional arrangement could not be reached, we appreciate his leadership as president and c.e.o. since his appointment in 2008,” Mr. House said. “On behalf of the board, our restaurant owners and our employees, I would like to thank Don for his two decades of service.
“We have a talented, experienced and highly capable executive group, and we will continue to drive execution of our established strategic growth plans and initiatives, which are designed to capitalize on market opportunities, as the board concludes the process to appoint a new c.e.o.”
Mr. House has held senior executive positions with Tim Hortons for more than 25 years, and in 1995 he was named president and chief operating officer. He later took on the title of c.e.o. in November 2005. He transitioned to executive chairman in March 2008.