[ad_1]
Domino’s Pizza has announced its long-serving chief executive will retire from the fast-food chain after 22 years in the top job.
Don Meij will step down from the role on Wednesday and will be replaced by Mark van Dyck as the pizza maker’s new global leader, the company announced on Tuesday morning.
Meij has worked with the company for almost 40 years, starting as a delivery driver in Redcliffe, Queensland.
During his reign, Domino’s escalated rapidly.
The company listed on the stock exchange in 2005 with 387 stores and yearly sales of $300M ($199M in USD).
In 2024, the company operates more than 3700 stores in 12 markets with sales of more than $4B ($2.654B in USD).
After Wednesday, Meji will work with the Domino’s Board and van Dyck for a further 12 months, the company said.
Prior to taking on the Domino’s role, van Dyck served on the executive board of Compass Group, a London-listed food service company with a market capitalization of $79B ($52.416B in USD).
He led the Asia Pacific division, overseeing 66000 employees in 11 countries.
Meij worked with the company for almost 40 years, starting as a delivery driver in Redcliffe, Queensland.
Domino’s chairman Jack Cowin, in thanking Meij, said he had transformed Domino’s from a Brisbane-based company to a “truly global business”.
“Under his leadership Domino’s Pizza 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 outcome for all our stakeholders, including franchise partners, shareholders and employees. He leaves an impressive legacy.”
Meij said it had been an “incredible honor” to lead the company.
“Domino’s has really been my life,” he said.
“When I started as a delivery driver in Redcliffe, I never imagines I’d become CEO of a truly global company with more than $4B (($2.654B in USD) in sales.
“While this decision was not easy, it’s the right time for me to step back and for new leadership to guide the next era of growth.”
While the company has boomed over the past two decades, it has struggled this year, with the stock down 43 percent year-to-date.
In its latest trading update, Domino’s said group same-store sales had slipped 1.2 percent in the first 17 weeks for the 2025 financial year, against a 2.7 percent rise in the prior corresponding period.
Cowin said the Board had picked van Dyck because of his “track record of successful transformations”.
“During his time at Compass, van Dyck doubled underlying growth and significantly increased profitability,” Cowin said.
“He also restructured and accelerated growth and profitability of the Japanese business and competed a strategic reset of the Australian business, making it one of the most profitable markets globally for Compass.”
Prior to Compass, van Dyck served in leadership positions at American soft drink giant Coca Cola.
Van Dyck, in his new role, will be paid $1.585M ($1.05M in USD) per annum and granted shares in the company.
0 Comments