Domino’s CEO Ritch Allison is retiring on April 30, the pizza chain announced Tuesday ahead of its quarterly earnings call. Russell Weiner, Domino's COO and president, will be promoted to CEO effective May 1. Allison will remain on in an advisory capacity through July 15, 2022 until he officially retires from the company, during which time David A. Brandon will transition from chairman of the board to the newly established position of executive chairman.
"Serving at Domino's for more than a decade, including the last four years as CEO, has been the privilege of a lifetime,” Allison said in a statement. “During that time, we and our franchises have achieved tremendous growth and today the Domino's brand is as strong as ever. While there is much that I will remember fondly, I am most proud of the culture that ties us all together – the ‘sauce in our veins’ that makes Domino's so special. Domino's has the best franchisees in the world and I am grateful for them, along with our incredible store managers, and team members.”
Prior to being announced as Ritch Allison’s successor as CEO, Russell Weiner served as COO of the company since July 2020. In this role, Weiner oversaw U.S. business for Domino's, marketing, operations, store growth and development, franchise relations, analytics and insights and e-commerce. Prior to that role, he served as CMO of Domino’s, joining the team in 2008, and helped lead the company’s pizza turnaround campaign.
"We are fortunate to have a talented and experienced leader like Russell to move into the CEO role,” David Brandon said in a statement. “Russell's strategic and operational capabilities have been demonstrated consistently over his many years of service to our company. He has played a pivotal leadership role in driving innovation and transforming many aspects of the Domino's brand during his tenure, including reinventing Domino's menu and advertising. […] As we enter a new phase of growth for the company, we believe Russell's energy, inspirational leadership style and earned respect of our team members and franchisees make him the right choice to take Domino's forward."
Additionally, Domino’s has announced the hiring of former Six Flags CFO Sandeep Reddy as Domino’s new CFO, nearly one year after former CFO Stu Levy resigned in May 2021. During his tenure as CFO of Six Flags, he led the company out of the pandemic and ended 2021 with strong financial results. Prior to that role, he served as CFO of clothing brand company Guess? Inc.
"Sandeep is a proven executive who brings nearly three decades of global leadership experience in consumer facing businesses,” Brandon said. “His financial acumen and expertise in operations, strategy, technology and management make him a natural choice to serve as our next CFO. Ritch and Russell partnered well together in the recruitment and selection of Sandeep, and together with the board, we are confident that Sandeep will be integral in helping Russell and the rest of the leadership team drive continued growth and success for Domino's into the future."
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