After serving as global chief executive since 2002,Meij will be replaced by former Coca-Cola executive Mark van Dyck.
The PM learnt the hard way farmers are no laughing matter.
The $3 billion pizza chain is at pains to convince investors it is back on a path of growth after a bumpy few years.
Fast food brands are slaves to consumers who might daily choose between a burrito,a burger,fried chicken,some sushi or pizza or cooking for themselves.
CEO Don Meij,who started as a Domino’s delivery driver,says he takes full responsibility for the poor results.
Price hikes and delivery fees to offset rising ingredient and fuel costs have hurt the pizza giant’s profits,but investors are confident of its recovery.
Between 65 and 70 corporate-owned stores will close,along with the company’s 27 Danish stores.
A US franchise operator has pumped cash into Domino’s biggest competitor at a time when the chain has struggled to navigate rising costs.
‘Unrecyclable’ discarded pizza boxes are a manifestation of the sustainability challenges facing the fast-food sector,but Domino’s challenges run deeper.
The plight of Domino’s Pizza shows how higher inflation is curbing profits. But some blue-chip companies are profiting handsomely.
Shares in the pizza giant have tumbled after a sharp drop in profit,with boss Don Meij admitting the company “did not get the balance right” after raising prices.