Jose Cil, CEO of Restaurant Brands International, on the impact of the coronavirus on fast food for Burger King, Popeyes and Tim Hortons.
While shutting down the coronavirus has been difficult for many restaurants and small businesses, Jose Cil, CEO of Restaurant Brands International told “Mornings with Maria” that they have been helping with innovation.
Cil, leader of Burger King, Popeyes and Tim Hortons, said drive-thru service and delivery has increased significantly over the past 10 months and he expects it to continue once the pandemic is over.
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“The situation is definitely challenging,” Cil told host Maria Bartiromo. “Consumer behavior is changing, mobility is limited, disposable income is quite impacted, and in the small business area, in the restaurant area, there is a lot of uncertainty given the changes in consumer behavior with the lockdowns and our franchisees, our small business owners face difficulties as a result. “
But, Cil added, there has also been “a lot of innovation in the industry for some time that has accelerated during the pandemic.”
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Despite the challenges restaurants face, he adds, “there is hope.”
“ People, of course, see the vaccine as part of it, but all the innovation, all the changes that have taken place, the persistence and resilience of the team members and small business owners, I think is pretty incredible to see. and I think that will help the restaurant industry continue to thrive in the long term towards 2021. “
| Ticker | Safety | Last | Change | Change% |
|---|---|---|---|---|
| QSR | RESTAURANT BRANDS INTERNATIONAL INC. | 62.22 | +0.23 | + 0.37% |
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Cil said his brands have invested in more technology as their business has largely gone digital.
He also said franchisees are focusing on investing in their local communities as more people stay at home and the need for community is important.