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Nov 16, 2022

∙ Paid

Good morning. I’m back in New York if anyone wants to hang out :)

Burger King owner Restaurant Brands hires former Domino’s CEO Patrick Doyle as chair. And we were JUST talking about the brilliance of Dominos’ business on Monday. Patrick Doyle “was chief executive of Domino’s from 2010 to 2018, and oversaw the pizza chain’s transformation into a digital powerhouse in the restaurant industry. When he took the reins of the company, its shares were trading at under $12. By the time of his departure, the stock was trading at more at $270 per share.” King. Doyle replaces Restaurant Brands’ current co-chairs, Daniel Schwartz and Alex Behring. The two are co-managing partners of 3G Capital, known for “zero-based budgeting”, firing tons of people, firing long-standing management and replacing them with 30-year-old Wharton millionaires (Kraft Heinz Couldn’t Stomach 3G’s Relentless Cost-Cutting). After leaving Domino’s, Doyle joined the Carlyle Group as an executive partner focused on acquisitions. He said that he missed the restaurant business and interacting with franchisees in his time away from the industry. A reminder that they always come back…

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