Bernardo Hees to Be Named CEO of Burger King Holdings
Current Burger King CEO John Chidsey
Robert Gilhooly/Bloomberg
Bernado Hees will replace John Chidsey, seen here, who will serve as co-Chairman of Burger King alongside 3G Capital managing partner Alex Behring.
Bernado Hees will replace John Chidsey, seen here, who will serve as co-Chairman of Burger King alongside 3G Capital managing partner Alex Behring. Photographer: Robert Gilhooly/Bloomberg
Burger King Holdings Inc., the U.S. fast-food chain being taken over by 3G Capital, will name Bernardo Hees chief executive officer after the $3.3 billion acquisition is completed.
Hees most recently served as CEO of railway company All America Latina Logistica, New York-based 3G said today in a statement. The buyout, valued at $4 billion including debt, is scheduled to close by the end of the year.
The executive will replace John Chidsey, who will serve as co-Chairman of Burger King alongside 3G Capital managing partner Alex Behring. Burger King, which trails only McDonald’s Corp. in U.S. sales, agreed to the takeover last week, paving the way for the biggest restaurant acquisition in at least a decade.
Burger King rose 1 cent to $23.68 at 4:01 p.m. in New York Stock Exchange composite trading. The shares have gained 44 percent since Aug. 31, when reports of a takeover surfaced.
Hees joined 3G as a partner in July. 3G, backed by Brazilian investors including billionaire Jorge Paulo Lemann, agreed to pay $24 a share for Miami-based Burger King on Sept. 2.
To contact the reporter on this story: Julie Alnwick in New York at jalnwick@bloomberg.net
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