Domino’s CEO and CEO Don Meij is retiring after two decades of ensuring people care about what’s in the points box.
The pizza chain announced this Tuesday his resignation after almost 40 years in the company, of which 22 as general director.
Meij’s successor is Mark van Dyck, former Asia-Pacific regional managing director of multinational foodservice company Compass Group.
Domino’s chairman Jack Cowin thanked the outgoing CEO, who will spend the next year working with the board and Mr van Dyck.
“Under his leadership we have grown from a Brisbane-based company to a truly global business,” he said.
“(Don) leaves an impressive legacy.”
Meij said the decision was not easy but the time was right for the company.
“Domino’s has really been my life,” he said.
‘When I started as a delivery driver in Redcliffe, Queensland, I never imagined I would become CEO of a truly global company with over $4 billion in sales.
Domino’s CEO Don Meijj is stepping down after nearly 40 years with the company. (Dan Peled/AAP PHOTOS)
“I leave knowing that the business is well positioned for an exciting new chapter.”
Domino’s had 387 stores and $300 million in sales when it listed on the ASX in 2005. It now has 3,700 stores and about $4 billion in sales.
The company also published a trading update for the first 17 weeks of fiscal 2025, reporting that group same-store sales decreased by 1.2 percent, compared to growth of 2.7 percent in the previous period.
Sales in Germany remain negative after record sales the previous year, but have improved since the August update. French and Japanese sales remain negative.
Van Dyck will be paid $1.58 million for the position, including benefits and entitlements, subject to an annual review.
Domino’s Chairman Jack Cowin thanked the outgoing CEO, who will spend the next year working with the board and Van Dyck.
Financial analyst Phillip Kimber said the trading update is disappointing and flagged risks to earnings with the change in leadership.
Domino’s shares had fallen nearly seven percent shortly before noon Tuesday, trading at $31.44.