CEO and managing director of Domino’s Pizza Enterprises (ASX:DMP), Don Meij, has retired after more than 20 years at the company’s helm. He’ll be replaced by Mark van Dyck, who will take on both roles starting November 6, 2024.
Mr Meij has been with the company for 40 years in total, holding the top job of CEO for 22 of these. He’ll continue to work with the Board and Mr van Dyck for the next 12 months to guide in the corporate transition.
He started the business in Brisbane, guiding it to become a global player. Domino’s listed in 2005 with 387 stores and sales of $300 million.
The search for a new Domino’s CEO was a global one, and Mr van Dyck’s experience is also international: Before this, he was on the executive board of British multinational food services company Compass Group, which has a market capitalisation of $79 billion and operations in 33 countries.
There, he worked as regional managing director in the Asia Pacific overseeing 66,000 employees in 11 countries; responsible for serving 400 million meals per year.
Domino’s chairman Jack Cowin said he wanted to thank Mr Meij for his achievements with the company.
“Under his leadership Domino’s Pizza Enterprises Ltd grew from a Brisbane-based company to a truly global business – the market-leader in each of the markets the company has operated for more than three years in Europe and the Asia-Pacific,” he said.
“Don has done an exceptional job of delivering positive outcomes for all our stakeholders, including franchise partners, shareholders and employees. He leaves an impressive legacy.”
Domino’s also reported a trading update for its first 17 weeks of trade in FY25, saying that Group SSS (same store sales) had fallen 1.2% compared to the prior period.
The company saw its shares move down following the news, and at 13:29 AEDT, they were trading at $31.26 – a fall of 7.27% since the market opened.
Join the discussion: See what HotCopper users are saying about Domino’s and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.