3G Capital picks new CEO for Burger King-UPDATE 1

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Thursday September 09, 2010 10:10:19 AM GMT

* Bernardo Hees to be Burger King CEO when sale closes

* Burger King sale slated to close before the end of 2010

By Lisa Baertlein

LOS ANGELES, Sept 9 (Reuters) - 3G Capital said on Thursday it plans to name Bernardo Hees chief executive of Burger King Holdings Inc when it closes its $3.26 billion purchase of the world's second-largest hamburger chain later this year.

Hees, who joined 3G Capital as a partner in July, was most recently CEO of America Latina Logistica, Latin America's largest railroad and logistics company, where he also served as a director. America Latina Logistica hired Hees in 1998 and his earlier posts included logistics analyst and chief financial officer.

3G Managing Director Alex Behring said in a statement that Hees improved performance at America Latina Logistica, delivering "strong gains" in both revenue and profitability.

"I know he will be an excellent steward of the Burger King brand as we look to take the Burger King experience to the next level for guests in the U.S. and worldwide," Behring said.

John Chidsey, Burger King's current CEO and chairman, will keep his roles during a transition period and then become co-chairman with 3G's Behring.

Burger King has been lagging bigger rival McDonald's Corp, which has done a better job of updating stores and expanding its menu to attract a broad range of diners.

Its sale to 3G, worth about $4 billion including debt, is expected to close in the last three months of 2010. Burger King has until Oct. 12 to solicit a richer offer from other buyers. (Editing by Gerald E. McCormick)

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