ANN ARBOR Mich. Domino’s Pizza Inc. said it will name Patrick Doyle, its current U.S. president, as the company’s new chief executive officer to replace David Brandon, who will step down as CEO in March and become non-executive chairman.
Brandon, 57, has been selected by his alma mater, the University of Michigan, to serve as its next director of intercollegiate athletics, Domino’s said in a statement Tuesday. It is a move that had been rumored for months but that Brandon had declined to confirm. Brandon has helmed the Domino’s Pizza chain, a system of 8,886 units, since 1999, and will remain with the company as a special adviser through this year. He also will remain a board member and stand for re-election when his term expires in 2012.
Doyle, 46, has been president of Domino’s USA since September 2007 and has been with the company since 1997. Details of both Brandon’s transition agreement and Doyle’s employment agreement will be finalized over the coming weeks, Domino’s said, and put to a vote for approval at the company’s Feb. 24 board of directors meeting.
“Patrick Doyle has been a rising star at Domino’s Pizza from the beginning,” Brandon said in a statement. “He has had numerous leadership successes at Domino’s and has long been identified as the best choice to be my successor. I look forward to continuing our close working relationship during this transition year.
“Our company is in great hands with Patrick,” Brandon said. “He’s a strategic, proven and effective leader, a passionate operator, and loves Domino’s Pizza as much as I do.”
Prior to joining Domino’s, Doyle worked with Gerber Products Co.
“I’ve learned so much from working closely with Dave for these past 11 years, and I am honored and very excited to take on this new challenge and opportunity,” Doyle said. “We’ve got a great team, and we’re ready to continue to work together with our franchisees around the world to drive this business to an even higher level of success.”
Domino’s Pizza announced last month acompletely reworked pizza in a move that was hailed as the chain’s most significant product launch in its 50-year history.
The No. 1 pizza delivery chain has struggled of late against stalled sales trends and has worked to add new menu items, including oven-baked sandwiches and pasta to spark customer traction. For its latest quarter, the Ann Arbor-based company reported a profit surge aided by cost cuts and lowered debt, but sales remained weak.
Contact Sarah E. Lockyer at [email protected].
