Domino’s UK finance chief quits after six months

Domino's Ballymena

Domino’s Pizza Group has confirmed that its CFO is stepping down from the company less than six months after taking on the role.

The chain said that Paul Doughty had “tendered his resignation” and will step down from the board at the end of the calendar year. It is not clear what his next move will be.

Doughty boasts more than 20 years’ commercial finance experience and joined the group from Moneysupermarket.com.

At the time of its appointment in June, Domino’s chairman, Stephen Hemsley, said: “He brings a wealth of experience from a leading consumer brand in the technology and FTSE250 listed environment. David Wild and his senior management team look forward to Paul’s contribution at this exciting time for Domino’s as we continue to grow through more store openings, a relentless focus on e-commerce technology and by supporting franchisee profitability.”

Domino’s has started a process of recruiting his replacement and said it will update the market accordingly.

In the meantime, CEO David Wild will assume responsibility for the group’s finance activities, supported by the internal team.

The board reiterated that it “remains comfortable” with the expectations for its full-year 2015 results following a recent trading update it gave to the market in October.

Last month it revealed that total third quarter sales increased 19% to £214m. Wild said: “We are delighted by this performance as our UK business goes from strength to strength, reflecting the success of our strategic and marketing initiatives. It represents the eighth consecutive quarter of double digit like for like sales growth as we continue to focus on delivering great food with great service, using our best in class digital platforms.”

Domino’s Pizza Group plc holds the exclusive master franchise to own, operate and franchise Domino’s Pizza stores in the UK, Republic of Ireland, Germany, Switzerland, Liechtenstein and Luxembourg.

The first UK store opened in Luton in 1985 and the first Irish store opened in 1991.

Authors

HAVE YOUR SAY...

*

Related posts

Top