Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, December 8, 2014

Tim Hortons CEO gets million dollar bonus after Burger King deal, (NYSE: BKW), (NYSE: THI), (TSE: THI.TO)

Tim Hortons Inc's chief executive will get a C$1 million ($871,460) bonus following the C$12.64 billion takeover deal by Burger King Worldwide, the Canadian coffee and donut chain said in a regulatory filing on Monday. Burger King agreed to purchase the Canadian company in August in a transaction that will create the world's third-largest fast-food restaurant group. The Canadian government approved the takeover, which will create a new company based north of the border, last week.The company said the discretionary bonus for Chief Executive Officer Marc Caira was awarded due to a substantially increased workload as a result of the merger deal and strong quarterly results that beat market expectations.After a transition period, Caira will cede his CEO position to Burger King's Chief Executive Daniel Schwartz, who will run the combined company.Cynthia Devine, the company's chief financial officer, was awarded a C$500,000 bonus and Frank Iacobucci, the board's lead director was also awarded a special C$100,000 recognition bonus.

Burger King Worldwide, Inc. is a fast food hamburger restaurant, under the Burger King brand. Shares of BKW fell by 2.84% or $-0.99/share to $33.82. In the past year, the shares have traded as low as $20.62 and as high as $37.30. On average, 1960060 shares of BKW exchange hands on a given day and today's volume is recorded at 6365772.

Tim Hortons Inc., is a quick service restaurant in North America. Shares of THI fell by 1.35% or $-1.15/share to $83.76. In the past year, the shares have traded as low as $50.67 and as high as $85.79. On average, 1042210 shares of THI exchange hands on a given day and today's volume is recorded at 1794925.

Tim Hortons Inc., is a quick service restaurant in North America. Shares of THI fell by 0.83% or $-0.8/share to $96.17. In the past year, the shares have traded as low as $56.12 and as high as $98.07. On average, 724408 shares of THI.TO exchange hands on a given day and today's volume is recorded at 1465920.



Source