Burger King Says Finance Chief Schwartz to Become CEO

Burger King Finance Chief Schwartz to Become CEO as Hees Leaves
A Burger King Whopper hamburger with french fries are arranged for a photograph in Tiskilwa, Illinois. Photographer: Daniel Acker/Bloomberg

April 11 (Bloomberg) -- Burger King Worldwide Inc. said Chief Financial Officer Daniel Schwartz will become chief executive officer after Bernardo Hees leaves for the top job at H.J. Heinz Co.

Schwartz has been named chief operating officer and will become CEO on July 1, Miami-based Burger King said today in a statement. Hees will be appointed to the role of vice chairman, board of directors, and will continue to serve on Burger King’s executive committee.

Schwartz has been the chain’s CFO since 2010 and helped lead international growth in China, Russia and Brazil. He previously was a partner at 3G Capital Inc., the private-equity firm that owns about 71 percent of Burger King’s outstanding shares, according to data compiled by Bloomberg.

Burger King rose 0.3 percent to $18.46 yesterday in New York. The shares gained 12 percent this year through yesterday, compared with a 15 percent gain for McDonald’s Corp.

To contact the reporter on this story: Kevin Orland in Chicago at korland@bloomberg.net

To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net