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  • Tim Hortons China Welcomes New CEO Kwok Wah Cheung to Harness Growth and Innovation

    Tim Hortons China Welcomes New CEO Kwok Wah Cheung to Harness Growth and Innovation

    TH International, the parent company of Tims China, master franchisee of Tim Hortons coffee shops, has announced the appointment of Kwok Wah Cheung as its new CEO, effective June 15.

    Experience and Expertise

    Cheung brings his wealth of experience to this new role, having held leadership positions at various major consumer businesses in China for over two decades. His past roles include CEO of Supor, an appliance and cookware manufacturer; executive director of dairy company China Feihe; chairman and CEO of Nestlé’s Greater China Region; and global president of Wyeth Nutrition.

    In his new capacity, Cheung will oversee the company’s overall operations and the execution of the board’s strategic directives. His focus areas include intensifying localization efforts, fostering continuous innovation, expanding the loyalty club, and enhancing customer convenience through optimized store layouts and the integration of digital and delivery services.

    Leadership Transition

    As part of this management transition, the incumbent CEO, Yongchen Lu, will relinquish his position and take on the role of company chairman. Simultaneously, the current chairman, Peter Yu, will step down from his position and remain as a director.

    In his new role as chairman, Lu will work closely with Cheung to facilitate a seamless transition and continue delivering value to all stakeholders.

    Tims China launched its inaugural store in 2019 and has since expanded rapidly, boasting 1,026 system-wide stores in 93 cities across mainland China by the end of March this year. The company’s loyalty club community currently exceeds 35 million members.

    Questions & Answers

    Who is the new CEO of TH International?
    Kwok Wah Cheung has been appointed as the new CEO of TH International.

    What will be the primary focus of the new CEO?
    Cheung will focus on localisation, innovation, loyalty club expansion, and enhancing convenience via optimized store formats and digital integration.

    What role will former CEO Yongchen Lu assume?
    Yongchen Lu will step down as CEO and assume the role of company chairman.

  • Tim Hortons to enter India, plans 250 stores

    Tim Hortons to enter India, plans 250 stores

    Canadian coffee chain Tim Hortons is set to make its Indian debut, eyeing rolling out more than 250 stores during the next five years.

    The first Tim Hortons store is scheduled to open in New Delhi later this year, followed by Punjab and other parts of the country. The India launch marks the brand’s fourth country in the Asia-Pacific after Thailand, the Philippines and China. The brand was brought into the country under an exclusive partnership with AG Cafe, which is a joint venture owned by Apparel Group and Gateway Partners.

    “The launch will lead to major investments in market-leading talent and innovation, creating new jobs and providing a direct boost to the hospitality sector,” said Navin Gurnaney, CEO of Tim Hortons India, who was previously CEO at Starbucks India.

    As it enters India, the Canadian F&B chain will directly compete with Starbucks, which operates 224 stores in the country as of last August. Currently, Tim Hortons has more than 5100 restaurants across 13 countries, including the Middle East, China, the UK, Mexico, Spain, Thailand and the Philippines.

    “The F&B sector is seeing a revival after a long period of covid-induced lull,” said Nilesh Ved, chairman and CEO of Apparel Group. “We see this as the most opportune time to introduce a new brand and have an aggressive plan to cater to the demand.”

    The move comes after the company’s Chinese subsidiary Tims China announced its $100 million committed equity facility from CF Principal Investments, an affiliate of Cantor Fitzgerald earlier this week.