Domino’s CEO Patrick Doyle Stepping Down

Domino’s CEO Patrick Doyle Stepping Down

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 he 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.”

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Chipotle Initiates Search for New CEO as Steve Ells Steps Down 

Chipotle Initiates Search for New CEO as Steve Ells Steps Down 

Steve Ells, the founder and mastermind behind the fast casual that started it all, Chipotle, announced on Wednesday that he is stepping down as the CEO of the chain.

However, he will be stepping into the executive chairman role. 

This seems like the chain's latest move as part of its comeback strategy. 

Chipotle has been plagued with a series of PR nightmares following a few food safety scandals that were exposed starting back in November 2015. 

It's no secret, the brand has had difficulty recovering. 

The company reported a 29.7% decrease in same-store sales in the first quarter of 2016, following the media frenzy after the first food safety crisis.

Chipotle's shares were up but 4.4% early Wednesday, according to the "New York Post."

But with stock prices no where close to where they were before the crisis, the brand has launched multiple free giveaway campaigns in attempt to recreate the long lines of the past at Chipotle stores.

But, investors have demanded big changes and it looks like Ells has decided to bring in a new CEO to direct the brand's comeback efforts. 

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