Domino’s Pizza CEO to retire, operating officer to take over
(Reuters) -Domino’s Pizza Inc stated on Tuesday Chief Government Officer Ritch Allison will retire on the finish of April and be succeeded by working head Russell Weiner, at a time the pizza chain’s battling provide chain disruptions.
Allison, 55, who has been with firm for over a decade, took the highest job in 2018, earlier than which he was the president of Domino’s Worldwide.
Allison’s technique of specializing in rushing Domino’s supply providers has helped the pizza chain navigate via the troublesome occasions inflicted by the worldwide pandemic, however the firm is now dealing with rising inflation and better commodity prices, corresponding to meats and cheese.
Shares of the corporate fell about 5% to $411 as the corporate additionally reported quarterly outcomes that missed analysts’ expectations.
Weiner will take over as CEO efficient Could 1. He joined the corporate as chief advertising and marketing officer in 2008 and presently is the chief working officer for Domino’s U.S. since July 2020.
The Ann Arbor, Michigan-based firm additionally stated Sandeep Reddy has been appointed as the subsequent chief monetary officer efficient April 1. He had beforehand served as CFO of Six Flags and Guess Inc.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Modifying by Aditya Soni and Shinjini Ganguli)
