Tim Hortons Inc. announces appointment of Marc Caira as new President and CEO:
OAKVILLE, ON, May 8, 2013
Seasoned Nestlé SA global foodservices executive to join Tim Hortons in July
OAKVILLE, ON, May 8, 2013 /PRNewswire/ - Tim Hortons Inc. (TSX: THI, NYSE:
THI) today announced the appointment of Marc Caira as President and CEO,
effective July 2nd, 2013. He replaces Paul House, who will become
non-Executive Chairman of the Board of Directors at that time. Mr. Caira will
also stand for election as a director at the annual meeting of shareholders.
Mr. Caira, 59, was most recently Global CEO of Nestlé Professional. In this
role, he led a global organization of 10,000 employees that operates in
approximately 100 countries. He was also a member of the Executive Board of
Nestlé SA, the world's largest food and beverage company, and a recognized
leader in nutrition, health and wellness.
Among the roles he held prior to his most recent position, which he was
appointed to in 2006, Mr. Caira was President & CEO of Parmalat North America,
Chief Operating Officer of Parmalat Canada, and President, Food Services and
Nescafe Beverages for Nestlé Canada.
"Marc Caira is an accomplished executive with exceptional knowledge of the
North American and global foodservices industry. His knowledge of the
out-of-home hot and cold beverage and food sectors is second to none. Marc's
strategic leadership capabilities, vision and tremendous depth of experience
make him the ideal leader to take Tim Hortons into the future, and I am
confident the Company is in great hands," said Paul House, executive chairman,
Tim Hortons Inc.
"Tim Hortons is an iconic brand and national treasure in Canada, and in my
view the Company has tremendous opportunity to build on that while creating
successful businesses in the United States and internationally. It's an
honour to lead this organization at such an important time in its history, and
I am looking forward to working with restaurant owners, the management team,
employees, investors and other key stakeholders on the next leg of growth,"
The Nestlé Professional global out-of-home business was created in 2006, and
under Mr. Caira's leadership, experienced significant strategic transformation
and expansion in the hot and cold beverage and food sectors. Mr. Caira also
helped Parmalat's North American operations successfully navigate a time of
significant adversity in its parent company, recapitalizing the Canadian
business and ensuring the continuation of a large, viable and profitable
*Appointment: July 2nd, 2013
*Family: Married to Helan Caira for 34 years, four children
Tim Hortons Inc. Overview
Tim Hortons is one of the largest publicly-traded restaurant chains in North
America based on market capitalization, and the largest in Canada. Operating
in the quick service segment of the restaurant industry, Tim Hortons appeals
to a broad range of consumer tastes, with a menu that includes premium coffee,
espresso-based hot and cold specialty drinks including lattes, cappuccinos and
espresso shots, specialty teas, fruit smoothies, home-style soups, fresh
Panini and classic sandwiches, wraps, hot breakfast sandwiches and fresh baked
goods, including our trademark donuts. As of March 31st, 2013, Tim Hortons had
4,288 systemwide restaurants, including 3,453 in Canada, 808 in the United
States and 27 in the Gulf Cooperation Council. More information about the
Company is available at www.timhortons.com.
SOURCE Tim Hortons Inc.
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