Domino’s slices European leadership in senior exec | Australian Markets
Domino’s Pizza chief government Mark van Dyck will spearhead the company’s turnaround efforts in the struggling European market.
Under a raft of senior government modifications revealed on Thursday, Domino’s mentioned all regional bosses in Europe would now report on to Mr van Dyck “for the foreseeable future”.
Current Europe CEO Andre ten Wolde — who joined the company in 2005 — will shift into the function of group chief advertising officer.
Along with an underperforming Japanese market, Domino’s has been battling to revive declining gross sales in Europe, the place earnings fell 11.1 per cent in the primary half of the financial 12 months to $32.3 million.
Under different government modifications, group chief portfolio management officer Julianne Dickson will tackle the new place of group chief transformation officer.
The world leadership shake-up comes as Domino’s prepares to roll out its Recipe for Growth strategy to buyers later this 12 months.
“Our team recognise the importance of the work we must deliver, and the outcomes required to improve returns for our franchise partners and our investors,” mentioned Mr van Dyck, who took over from long-time chief government Don Meij in November.
“We are aligned on returning our business to sustained, long-term growth.”
Mr van Dyck mentioned the company’s growth agenda would come with a concentrate on improved return on investment from advertising, together with new product development and promoting spending, in addition to delivering greater digital conversion.
“Given the importance of delivering top-line growth in improving unit economics and business health, it’s critical Domino’s has experienced leadership that can bring together insights and best practice to benefit all markets,” he mentioned.
Ms Dickson, who solely joined Domino’s final 12 months, shall be charged with delivering the Recipe for Growth plan alongside Mr van Dyck.
In February, Domino’s reported a loss of $22.2m for the six months to the tip of December — down from a $57.8m revenue a 12 months earlier.
It additionally revealed it might cop a $115.6m hit in one-off prices related to the closure of 205 loss-making shops, with 172 of these in the struggling Japanese market.
At the time, Mr van Dyck conceded the company grew too rapidly, with many of the shops to close opened during the pandemic, fuelling a surge in gross sales.
Domino’s has 3700 shops throughout Australia, New Zealand, Europe and Asia.
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