Domino’s Australia Shares Sink as CEO Plans Exit After One Year

(Bloomberg) – Domino’s Pizza Enterprises Ltd. His shares have fell to the lowest level since 2013 after saying that Mark Van Dyck, the general manager and general manager of the company, would resign only a year later in the role.

The Australian -based company said Brisbane will leave in December. According to a stock market table, billionaire Food Magnate Jack Cowin was appointed as the Head of the Temporary Executive.

Morgan Stanley analysts in a note, “This announcement contributes to a surprise and uncertainty at a time when Domino is trying to reset his work.

The separation comes after the company’s global leadership was overhauled last year. In November, Van Dyck succeeded in CEO and General Manager Don Meij, who has been with Domino’s for almost 40 years.

Cowin was the company’s biggest shareholder and was already president. He is also the president and general manager of Cfal Group, the operator of Hungry Jack, who holds the main franchise for Burger King in Australia.

He said the Board has undertaken a global search for a new group CEO.

Van Dyck has supervised the closure of 205 low -performance stores in Europe, Japan, Australia and New Zealand.

Van I believe that when there is a clear strategy and a strong team, I believe that the time will be delivered to the next CEO at the end of this calendar year, ”Van Dyck said.

In May, the company’s Anz CEO Kerri Hayman said he would resign in August.

(Sharing updates the price movement, analyst reviews adds to paragraph 3)

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