Tims China appoints Kwok Wah Cheung as CEO
The former CEO will take on the role of chairman of the company.
TH International Limited, the parent company of the exclusive master franchisees of Tim Hortons coffee shops in China, announced that its Board of Directors has appointed Kwok Wah Cheung as the company’s CEO effective 15 June 2026, as part of its ongoing succession planning process.
Yongchen Lu will step down as CEO and assume the role of Chairman of the Company. In addition, the company’s current chairman of the company, Peter Yu, will step down from such position but will remain as a director.
Cheung brings over 20 years of experience as a chief executive and president of major consumer businesses in China. He served as CEO of Supor, a leading Chinese manufacturer of cookware and household appliances.
Prior to that, he served as executive director of China Feihe Limited, one of China’s foremost dairy companies, and Chairman & CEO of Nestle’s Greater China Region, and Global President of Wyeth Nutrition.
Earlier in his career, Cheung held senior roles at The Coca-Cola Company and Procter & Gamble. He has spent the majority of his career in China since 2000 and brings deep experience in brand building, consumer insights, and operational excellence in the Chinese market.
Meanwhile, Tims China has also announced that it has signed an agreement with Tim Hortons Restaurants International to raise up to $55m through a new round of convertible notes. The money will be used to open more stores and cover operating costs.
The new notes sit alongside an existing $89.9m convertible note facility that was issued in December 2025, and carry the same terms, including interest rate, conversion price, and maturity date.
The funding will be released in four separate instalments, starting with $15.8m in the third quarter of 2026, with the final tranche expected in the first quarter of 2027.
Each instalment is conditional on regulatory approvals in China and the company hitting certain business performance milestones.
