Chief executive Russel Creedy, CFO Grant Ellis to retire from Restaurant Brands in 2023

Outgoing Restaurant Brands CEO Russel Creedy. Photo / NZ Herald

Restaurant Brands NZ says chief executive Russel Creedy and chief financial officer Grant Ellis will both retire from the company in 2023 after 20 years.

Creedy will retire on March 31 Ellis on May 31.

The company operates 359 KFC, Taco Bell, Pizza Hut, and Carl's Jr stores in New Zealand, Australia, California, and Hawaii and is the master franchisor of 101 Pizza Hut stores in New Zealand.

"It is with a sense of sadness and great appreciation for their long history with our company that I received the news that both Russel and Grant have decided to retire from Restaurant Brands," chairman José Parés said.

"In addition to their many accomplishments over more than 20 years with the company, most recently Mr Creedy and Mr Ellis played a key role in RBD's milestone of achieving more than one billion New Zealand dollars in sales for 2021," Parés said.

Under their leadership, Restaurant Brands had consolidated its presence in the quick service restaurant market.

Creedy and Ellis would still be directly involved in the business until their retirement, the company said.

Ellis will serve as adviser to the chairman and new chief financial officer.

Creedy will serve as special advisor to Finaccess Capital - Restaurant Brands' majority shareholder.