Susan Senecal to become 5th CEO in A&W’s history as Paul Hollands retires from operations
Vancouver, BC – A&W Food Services of Canada Inc. (“A&W” or the” Company”) and A&W Revenue Royalties Income Fund (the “Fund”) (TSX: AW.UN) announced that, effective February 16, 2018, Susan Senecal will become President and CEO, becoming the fifth CEO in the Company’s 62-year history, and the first-ever fully bilingual CEO and woman in the role. Ms. Senecal is currently President and Chief Operating Officer of the Company. She will succeed Paul Hollands, who will retire as CEO on February 16, 2018, following 37 years with A&W, 13 of which were spent as CEO. Mr. Hollands will continue as Chairman of the Board of A&W. Ms. Senecal will also replace Mr. Hollands as CEO of the Fund on February 16, 2018. The changes reflect the Company’s succession planning and the continuity in leadership that are hallmarks of the business.
“It has been one of my life’s great honours to lead such a wonderful enterprise that has been on the forefront of positive change for our industry, and touches the lives of millions of Canadians every single week,” said Mr. Hollands. “Susan has been a large part of the growth and evolution of the company, and I am truly delighted that she will assume the strategic leadership of A&W into its next chapter.”
Ms. Senecal has been with A&W for 25 years and has been involved in or led almost all major areas of the business, including operations, development, real estate and marketing. In all roles, she led transformative change and brought success to the organization. She spearheaded the strategy to build on A&W’s leadership in food, bringing progressive, sustainable and ethical products and practices to A&W restaurants. This strategy included new beef specifications introduced in 2013, which led to the restaurant serving beef raised without the use of hormones or steroids. A&W was the first restaurant chain to serve chicken raised without the use of antibiotics, eggs from hens fed a diet without animal by-products, pork raised without the use of antibiotics, and organic, fair-trade coffee. Most recently, the Company extended its ingredient guarantees, when, in July, it began serving its famous A&W Root Beer® made with natural cane sugar and all-natural flavours.
Ms. Senecal has also been a leader outside of A&W, as a Director and Past Chair of Restaurants Canada and serving on the National Board of the Multiple Sclerosis Society of Canada.
A&W Food Services of Canada Inc. is 100 per cent Canadian owned and is the nation’s second largest hamburger chain with more than 900 locations across the country and over $1.1 billion in annual sales. From coast-to-coast, A&W is a leader in the Canadian burger industry and one of the fastest growing food service brands. A&W Restaurants feature famous trade-marked menu items such as The Burger Family®, Chubby Chicken® and A&W Root Beer®. For more information, please visit aw.ca.
The Fund is a limited purpose trust established to invest in trademarks, which through its interest in A&W Trade Marks Limited Partnership (the “Partnership”), owns the A&W trademarks used in A&W’s quick service restaurant business in Canada. The A&W trademarks comprise some of the best-known brand names in the Canadian foodservice industry. In return for the Fund licensing to the Company the right to use the trademarks, the Partnership indirectly receives royalties equal to 3% of the sales of A&W restaurants to which the licence applies. The Fund is a reporting issuer in Canada and its units trade on the Toronto Stock Exchange. More information regarding the Fund can be obtained at www.sedar.com.
Cautionary note regarding forward-looking information:
This news release may contain certain forward-looking information within the meaning of applicable securities laws in Canada. Forward-looking information in this news release includes statements with respect to the timing of Ms. Senecal’s appointment as President and CEO of the Company and the Fund, and the timing of Mr. Hollands’ retirement as CEO of the Company and the Fund. The forward-looking information is based on assumptions that management considered reasonable at the time it was prepared. The forward-looking information is subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by the forward-looking information. The factors which could cause results to differ from current expectations are described in the Fund’s most recent Management Discussion and Analysis under the heading “Risks and Uncertainties” and the Fund’s Annual Information Form under the heading “Risk Factors,” available on SEDAR at www.sedar.com.