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Tim Hortons Replaces CEO
 

by Dan Eaton

Business First of Columbus

Wednesday, May 25, 2011
 

Tim Hortons Inc. is searching for a new CEO.

The Oakville, Ont.-based chain of coffee-and-doughnut shops, whose U.S. headquarters are in Dublin, said Wednesday that CEO Don Schroeder is being replaced on an interim basis by former CEO Paul House. Schroeder had led the company since 2008, when House moved into the role of executive chairman.

The executive change comes nearly two weeks after the company reported first-quarter earnings that missed analysts’ expectations, although sales at stores open at least a year were up in both Canada and the U.S.

Messages with Tim Hortons weren’t immediately returned.

Tim Hortons (TSX:THI) has 3,169 locations in Canada and 613 in the U.S., including about 100 outlets in Western New York.