The head of Tim Hortons has left his role at the company effective immediately.
Canada’s No. 1 coffee chain said Don Schroeder will no longer serve as president and CEO, after two decades working for the company.
The board of Tim Hortons made the announcement Wednesday, saying that it decided that changing top ranks at this time is best for the company. In the meantime, executive chairman Paul House, who has previously held the position of president and CEO, will once again take on the role on an interim basis.
“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 CEO since his appointment in 2008,” House said in a release.
“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 CEO.”
The board said it was already engaged in comprehensive succession planning for the CEO position as part of its strategic planning.
House has worked for Tim Hortons for more than 25 years, and held the role of president and chief operating officer in the mid-’90s as well as CEO on a temporary basis in 2005 as Schroeder transitioned into the job.
