After eight years leading the largest U.S pizza chain, Domino’s Pizza CEO Patrick Doyle has announced he will be stepping down on June 30th. Doyle is widely regarded as the leader of a groundbreaking turnaround at Domino’s, as supported by chairman of the board David Brandon.
“Patrick excelled at every role he served at Domino's for more than 20 years, and during the past eight he distinguished himself as one of the best leaders in the restaurant industry,” Brandon said in a statement.
Under Doyle’s leadership, the Ann Arbor, Mich.-based Domino’s opened more than 5,500 stores and launched in more than a dozen new countries.
Domino’s reworked their pizza recipe in 2009 when Doyle was president of the chain, a move that marks the beginning of Domino's rise to the top. Since becoming CEO Doyle has overseen many exciting campaigns such as the world’s first drone pizza delivery and allowing customers to order with a pizza emoji.
When taking on the CEO position in 2010, Doyle had set three goals for himself.
“I wanted us to become the No. 1 pizza company in the world; I wanted Domino’s to provide our franchisees with the best possible return on their investment by creating a dramatically better experience for our customers; and I wanted to have a leadership team in place that would be ready to create even better results into the future. I’m proud to say that we’ve accomplished all of those goals, and I will leave Domino’s knowing that it is in great hands,” said Doyle in a statement.
According to Reuters, shares in Domino’s fell 2.8 percent to $201 in aftermarket trading, following news of Doyle’s pending departure.
Doyle has dismissed rumors that he might move to Chipotle after founder Steve Ells stepped down into the executive chairman role in November and, instead, has shared plans to take a 6-month break to consider his future plans. Richard Allison, president of Domino’s International, will take over as CEO.
Read more about Domino’s new leadership team on “Nation’s Restaurant News.”