Burger King Holdings is the parent company of Burger King and is a Delaware corporation formed on 23 July 2002, shortly before the acquisition of the company by the TPG lead group. A privately held company, it derives its income from several sources, including property rental and sales through company owned restaurants; however a substantial portion of its revenue is dependent on franchise fees. During the transitional period after the acquisition of the company by 3G Capital, Burger King's board of directors was co-chaired by John W. Chidsey, formerly CEO and chairman of the company, and Alexandre Behring, managing partner of 3G Capital. By April 2011 the new ownership completed the restructuring of Burger King's corporate management and Chidsey tendered his resignation, leaving Behring as new CEO and chair.The company operates approximately 40 subsidiaries globally that oversee franchise operations, acquisitions and financial obligations such as pensions. One example of a subsidiary is Burger King Brands, Inc. which is responsible for the management of Burger King's intellectual properties. A wholly owned subsidiary established in 1990, Burger King Brands owns and manages all trademarks, copyrights and domain names used by the restaurants in the United States and Canada. It also responsible for providing marketing and related services to the parent company.Burger King is headquartered in a nine-story office tower by Miami International Airport in unincorporated Miami-Dade County, Florida. Elaine Walker of the Miami Herald stated that the headquarters has a "Burger King" sign that drivers on Florida State Road 836 "can't miss." In addition the chain planned to build a neon sign on the roof to advertise the brand to passengers landing at the airport. On Monday 8 July 2002, 130 employees began working at the Burger King headquarters with the remainder moving in phases in August 2002. Prior to the moving to its current headquarters in 2002, Burger King had considered moving away from the Miami area; Miami-Dade County politicians and leaders lobbied against this, and Burger King stayed.The company's previous headquarters were in a southern Dade County campus described by Walker as "sprawling" and "virtually hidden away. The former headquarters were located on Old Cutler Blvd in the Cutler census-designated place.The former Burger King headquarters as of 2007 houses rental offices for several companies.Burger King announced in 2008 that it planned to move its headquarters to a proposed office building in Coral Gables. The company reversed its decision in 2007 and renewed the lease in its existing headquarters for 15 more years. Burger King had planned to consolidate employees working at an area near Miami International Airport and at a Dadeland Mall-area facility into the current headquarters by June of that year. Instead Bacardi USA leased the headquarter complex, a 15-story building.
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