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Daniel Schwartz

From Wikipedia, the free encyclopedia
Not to be confused with Daniela Schwarz.
For the professor of Jewish History, see Daniel R. Schwartz.
Daniel Schwartz
Born1980 or 1981 (age 43–44)[1]
Long Island, New York, US[2]
OccupationCo-Managing Partner 3G Capital

Daniel Schwartz (born 1981) is an American businessman, executive, and investor.[1] He is currently the Co-Managing Partner of 3G Capital, a global investment firm and private partnership known for its long-term investments in prominent companies such as Anheuser-Busch InBev, Restaurant Brands International (Burger King, Tim Hortons, Popeyes Louisiana Kitchen, and Firehouse Subs), Kraft Heinz, and Hunter Douglas.[3][4][5][6][7] Schwartz played a pivotal role in 3G Capital's 2010 acquisition of Burger King, where he served as CFO, COO, CEO, and Co-Chairman of the Board of Directors from 2010 to 2022 and continues to serve on the Board of Directors today.[8][9][10] In 2017, Daniel was recognized by Forbes as Top 40 under 40 for his role in turning around Burger King.[11]

Early life

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Schwartz was raised on Long Island, New York, in a family where both his father and mother had successful professional careers as a doctor and lawyer.[1][12] He completed his high school education at The Wheatley School in 1998.[13] Schwartz then pursued his higher education at Cornell University, graduating with a Bachelor of Science degree in Applied Economics and Management.[14] During his time at Cornell, Schwartz initially took pre-med and finance courses before specializing in management and applied economics, graduating in 2001.[15]

Career

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In 2005, Schwartz joined 3G Capital, becoming a Partner in 2008 at the age of 27.[16][17] His work focused on identifying and executing strategic acquisitions.[16] In 2010, Schwartz played a pivotal role in the acquisition of Burger King for $4 billion where he was appointed as CFO.[17] Under new leadership, Burger King underwent a transformation, introducing a reworked menu and innovative marketing strategies.[18][19]

In 2013, at the age of 32, Schwartz became the CEO of Burger King, making him one of the youngest restaurant CEOs in history.[17] During his tenure, Burger King's growth outpaced competitors, with the company opening 1,000 new restaurants worldwide.[9][15][20]

In December 2014, Schwartz played a key role in 3G Capital's acquisition of Tim Hortons for $12.5 billion, resulting in the creation of Restaurant Brands International (RBI), the world's third-largest quick-service restaurant company.[21] Under Schwartz's leadership, RBI further expanded its portfolio by acquiring Popeyes Louisiana Kitchen, Inc. in 2017 for $1.8 billion and Firehouse Restaurant Group Inc. for $1.0 billion in 2021.[22][23][20]

After stepping down as CEO of Restaurant Brands International in January 2019, Schwartz served as Co-Chairman of the Board alongside his mentor, Alex Behring until 2021.[24][25] He continues to serve on the Board of Directors of the company. Schwartz also led 3G Capital's recent acquisition of Hunter Douglas in 2021 and currently serves as a board member.[24][26]

Personal life

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Schwartz remains actively involved in his alma mater, Cornell University. As a graduate of Cornell, he serves on the Undergraduate Program Advisory Council of the Dyson School.[27] Daniel Schwartz is married and has three children.[9]

References

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  1. ^ a b c Peterson, Hayley (June 12, 2017). "How a 36-year-old Wall Street prodigy saved Burger King". Business Insider. Schwartz, now 36, is sitting at the top, earning more than $6 million in annual compensation.
  2. ^ Bryant, Adam (8 September 2017). "Daniel S. Schwartz of Restaurant Brands International on the Value of Hard Work". The New York Times. Retrieved 15 December 2017.
  3. ^ "Home - 3G Capital". 2019-10-22. Retrieved 2023-07-10.
  4. ^ Fontanella-Khan, James (2021-12-31). "3G Capital buys majority stake in Hunter Douglas for $7.1bn". Financial Times. Retrieved 2023-07-10.
  5. ^ Gelles, David (2015-03-26). "3G Capital, Warren Buffett's Favorite Partner in Deals Worth Billions". The New York Times. ISSN 0362-4331. Retrieved 2023-07-10.
  6. ^ Cheng, Evelyn (2017-02-17). "3G and Buffett's Berkshire behind what could be the largest US purchase of a foreign company". CNBC. Retrieved 2023-07-10.
  7. ^ Daneshkhu, Scheherazade; Whipp, Lindsay; Fontanella-Khan, James (2017-05-07). "The lean and mean approach of 3G Capital". Financial Times. Retrieved 2023-07-10.
  8. ^ "About Us - Board of Directors - Person Details | Restaurant Brands International ™". www.rbi.com. Retrieved 2023-07-10.
  9. ^ a b c Sorvino, Chloe. "Whopper Of A Turnaround: At Burger King, The 3G Capital Model Actually Worked". Forbes. Retrieved 2023-07-10.
  10. ^ Peterson, Hayley. "How a 36-year-old Wall Street prodigy saved Burger King". Business Insider. Retrieved 2023-07-10.
  11. ^ "Daniel Schwartz". Fortune. Retrieved 2023-07-10.
  12. ^ Bryant, Adam (2017-09-08). "Daniel S. Schwartz of Restaurant Brands International on the Value of Hard Work". The New York Times. ISSN 0362-4331. Retrieved 2023-07-10.
  13. ^ Engoron, Art (September 3, 2016). "Wheatley Alumni Monthly Newsletter Number 4". The Wheatley School Alumni Association.
  14. ^ "DDLS Roundtable - Speaker: Daniel Schwartz, CALS 01, CEO, Restaurant Brand International (Burger King Corporation)". orgsync.com. Archived from the original on 2016-11-08. Retrieved 2016-11-22.
  15. ^ a b Nordqvist, Christian (2022-10-06). "Former Burger King CEO Daniel Schwartz Helped Franchisees Have It Their Way". Market Business News. Retrieved 2023-07-10.
  16. ^ a b "The Wall Street prodigy who took over Burger King when he was 32 reveals the best advice he ever received". Business Insider. Retrieved 2017-12-14.
  17. ^ a b c Nordqvist, Christian (2022-10-06). "Former Burger King CEO Daniel Schwartz Helped Franchisees Have It Their Way". Market Business News. Retrieved 2023-07-13.
  18. ^ "Burger King agrees to $3.3 billion sale to 3G Capital". Reuters. 2010-09-02. Retrieved 2023-07-13.
  19. ^ Warner, Annie Gasparro And Melodie (2012-08-01). "Burger King's New Menu, Marketing Boost Profit". Wall Street Journal. ISSN 0099-9660. Retrieved 2023-07-13.
  20. ^ a b "The deals that show how lucrative private equity can be". www.ft.com. Retrieved 2023-12-29.
  21. ^ "World's Third Largest Quick Service Restaurant Company Launched with Two Iconic and Independent Brands: Tim Hortons and Burger King". www.rbi.com. Retrieved 2023-07-13.
  22. ^ Inc, Restaurant Brands International. "Restaurant Brands International Inc. Agrees to Acquire Popeyes Louisiana Kitchen". www.prnewswire.com. Retrieved 2023-07-13. {{cite web}}: |last= has generic name (help)
  23. ^ "Restaurant Brands International Inc. to Acquire Firehouse Subs". www.rbi.com. Retrieved 2023-07-13.
  24. ^ a b "About Us - Board of Directors - Person Details | Restaurant Brands International ™". www.rbi.com. Retrieved 2023-07-13.
  25. ^ "About Us - Board of Directors - Person Details | Restaurant Brands International ™". www.rbi.com. Retrieved 2023-07-13.
  26. ^ Fontanella-Khan, James (2021-12-31). "3G Capital buys majority stake in Hunter Douglas for $7.1bn". Financial Times. Retrieved 2023-07-13.
  27. ^ "Speaker: Daniel Schwartz, Dyson '01, Chief Executive Officer". Cornell Nolan. Retrieved 2023-07-13.
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