After the controversial merger between Burger King and Canadian doughnut and coffee joint Tim Hortons was announced in August, bonuses are being dished up as generously as donuts, coffee and burgers. Tim Horton’s CEO Marc Caira will receive a bonus of a million Canadian dollars or $871, 460, as reported by Reuters.
The bonus is being awarded because of Tim Horton’s positive performance on earnings and because of the increase in Caira’s workload as a result of the merger. However, the transition will lead to Caira ceding his position to Burger King CEO Daniel Schwartz. The headquarters of the great American burger joint will now be in Canada. Tim Horton’s CFO Cynthia Devine and the head of its board, Frank Iacobucci, were also given six figure bonuses.
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