Patrick Doyle, the former CEO of Domino's Pizza, has been tapped to head the board of Restaurant Brands International, according to a Wall Street Journal report.

Doyle will serve as the company's executive chairman, taking a 500,000-share stake in the company as payment. The shares are valued at about $30 million.

According to the news report, Tim Hortons and Burger King have struggled in recent years thanks to the pandemic. RBI recently pledged $400 million to help Burger King's operations and advertising.

Doyle left Domino's in 2018.

"I love the restaurant industry. These are four exceptional brands with real opportunities for accelerated growth. Working closely with each of the brands' franchisees, with Jose, the whole RBI team, and the Board of Directors, I am confident we can create one of the most compelling growth stories in the industry," Doyle said in a company press release.

Doyle will receive more shares based on performance tied to RBI's share price increasing over five years, the company said in a statement. Doyle will earn more shares if RBI's stock hits at least $81.32 within five years and he'll receive more if stock hits $122, said the company in a filing.

"I'm excited to work closely with Patrick and our leadership team to build the most loved restaurant brands in the world. This includes our intention to rapidly accelerate growth in the company and deliver on plans that result in exceptional service for our guests; and excellent returns for our franchisees and for all shareholders," Jose Cil, CEO of RBI, said in a press release.

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