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Popeyes Chief Brand Officer, Dick Lynch, to Step Down Following Acquisition by Restaurant Brands International (RBI)

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Popeyes today announced that Richard H. Lynch (Dick), the company's
Chief Brand Officer, will step down following the close of the
acquisition of Popeyes by Restaurant Brands International, Inc. Lynch,
the architect of Popeyes Louisiana brand transformation, which was the
foundation for the turnaround at Popeyes, is moving on from Popeyes.

After choosing to leave Popeyes after nine years, Lynch has continued to
work closely with the incoming leadership team to ensure marketing and
brand continuity through the transition. He has been heavily involved in
the development of Popeyes marketing succession plan including the
selection process for its new chief marketing officer.

"Dick has been a catalyst for Popeyes remarkable growth over the past
nine years" said Cheryl Bachelder, former CEO of Popeyes. "His
relentless focus on creating a product that our guests crave, coupled
with his ability to recognize and develop talent at the restaurant
support center, have been invaluable to the success of the brand."

During Lynch's tenure at Popeyes, the share price has moved from $7.55
to the purchase price of $79, an increase of 946%. His decision to
transform the Popeyes brand by focusing on Louisiana Heritage as a
differentiator has shaped every aspect of the business including
culinary innovation, marketing, advertising, employee experience, guest
experience, communications and investor relations, becoming the engine
for its business success.

"The health of the Popeyes brand, along with sustainable Louisiana brand
differentiation led by Dick and his team, were among the factors that
drew our attention to Popeyes," said Daniel Schwartz, CEO of Restaurant
Brands International. "Lynch leaves behind a legacy of success and
growth. He and his team have laid a firm foundation upon which the brand
can continue to grow for years to come."

When Lynch first began with Popeyes, he set out to reenergize the brand
by immersing it in the rich culinary heritage of Louisiana, introducing
an aggressive calendar of product innovation that resulted in the
introduction of 33 new products all directly tied to that heritage. This
immediate redefinition of the brand served as the all-important
foundation for Popeyes record growth over the next 9 years in which the
share price closed at an all-time high despite turbulence in the QSR
industry.

Throughout his years at Popeyes, Lynch assembled a stellar team of
marketing and advertising experts and used his keen eye for talent to
elevate those already in the Popeyes system whose skills had been
underutilized. Together, Lynch and his team created a national marketing
strategy featuring the now iconic Popeyes spokesperson, Annie, a move
which, coupled with a nearly 300% increase in advertising spend,
bolstered the brand image. Today Annie stands as one of the most
recognizable promotional personalities in television advertising.

During this time, the Popeyes brand has also achieved the following:

  • 8 consecutive years of same-store sales growth
  • Top line annual unit volumes (AUVs) have increased by 45% from $1
    million to $1.45 million
  • Guest satisfaction has jumped nearly 10%
  • The Popeyes system has grown from 1,860 locations to nearly 2,700 in
    2016
  • A share price increase from $7.55 to the purchase price of $79.00

"When I was first approached about joining the Popeyes team, it was
clear that the brand's history and heritage were underleveraged," said
Lynch. "There was a significant opportunity to claim a space that even
then we knew would elevate the brand. It was a transformative strategy
that turned Popeyes into an unstoppable force, building quarter after
quarter of same-store sales increases even while the economy struggled.
It has been my distinct pleasure to work with the Popeyes leadership
team in this ambitious endeavor and I look forward to my next venture."

Corporate Profile

Popeyes Louisiana Kitchen, Inc. is the franchisor and operator of
Popeyes® restaurants, the world's second-largest Quick-Service
Restaurant ("QSR") chicken concept based on number of units. Popeyes has
nearly 2,700 operating restaurants in the United States, three
territories, and 25 foreign countries. The Company's primary objective
is to deliver sales and profits by offering excellent investment
opportunities in its Popeyes brand and providing exceptional franchisee
support systems and services to its owners. Popeyes Louisiana Kitchen,
Inc. can be found at www.popeyes.com.

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