Domino’s Pizza’s chief financial officer and executive vice president Stu Levy has resigned from his position after less than a year and left Domino’s to “pursue opportunities outside the company,” according to an 8-K filed Wednesday with the U.S. Securities and Exchange Commission.
Domino’s has not yet announced a replacement for Levy and company CEO Ritch Allison will “oversee a newly established office of the chief financial officer” and serve as the company’s interim principal financial officer. The office of chief financial officer will temporarily include Ryan Goers, vice president, finance, global financial planning and analysis; Juan Jose Joachin, vice president, finance operations; and Jessica L. Parrish, vice president, corporate controller and treasurer, until a new CFO is officially announced.
“On behalf of everyone at Domino’s, I would like to thank Stu for his contributions, including his leadership throughout the complex challenges of the pandemic,” Allison said in a statement. “We maintained and built on our financial strength, invested in the capacity required to support the long-term growth of the brand, and delivered significant shareholder value, all while putting our team members and customers first.”
Levy will be remaining with the company through the end of August 2021 to help with the transition.
“Domino’s is in a great position to continue its impressive track record of global growth,” said Levy. “It’s been a privilege to work with the amazing team members and franchisees who make Domino’s such an iconic brand and I’m confident this will be a smooth transition.”
Although Domino’s did not give more information on where Levy will be heading next, the company clarified in the announcement that his departure was not a result of “financial reporting or accounting policies, procedures, estimates, or judgments.”
"Stu is stepping down to pursue other opportunities, as he has a desire to be back in an operating role," a Domino's spokesperson told Nation's Restaurant News. "We’re lucky that he’s backed by a great team, and he’ll continue on in an advisory capacity until the end of August to ensure a smooth transition."
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