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Has Pizza Peaked? Domino's Chief Executive Departs After Shift Towards Fried Chicken.
A head of Domino's Pizza Group who indicated the UK might have hit peak pizza while broadening the chain into chicken products has been replaced after conflicts with its governing body.
Executive Shake-Up
The former CEO is leaving after only 24 months in leadership, and will be succeeded on an interim basis by the company's operations head, Frampton, while Domino's seeks a new leader.
Rennie, who was with Domino's for a substantial period, had sought to shift Britain's leading pizza takeaway chain towards chicken offerings, stating earlier this month there was not “massive growth” left in the pizza sector in the UK. He observed poultry was the most rapidly expanding protein in the world.
Board Friction
It is understood that there was friction between Rennie and the board over his approach and direction, although Domino's official statement said he was leaving “by mutual agreement”.
New Brand Introduction
In the autumn, Domino's unveiled its poultry brand – which the former chief described as a “bold new chapter” for the group – and is piloting it in select stores in the North West region and the province.
While the business is still planning to expand it across its almost 1,400 stores next year as planned, it views fried chicken as a supplement for its core pizza business.
Leadership Statement
Bull, the company chair, said: “The board believes that there are a range of possibilities to drive further growth and value creation in Domino's core business. We are focused on finding the right chief executive to direct the disciplined execution of that growth strategy.”
Industry Challenges
Recently, the pizza delivery giant, which has a substantial customer base in the UK and Ireland, said orders declined by 1.5% in the third quarter. In the summer, it alerted that the takeaway market had “become tougher” as it attributed weaker consumer confidence in the run-up to the budget and higher payroll outlays for disappointing revenue and a 15 percent decline in half-year profits.
Other pizza operators are also experiencing difficulties. Pizza Hut announced the closure of multiple locations a month ago, after the business behind its UK venues faced financial collapse.
Wellness Initiatives
Trying to keep up with consumer trends towards healthier eating, Domino's has launched light items, such as its Thin & Crispy range of pizzas below 400 kcals as well as meat-free and allergy-friendly options. A family-sized pepperoni has 2,311 calories. A big margherita has 2,171 kcal, while a small has 909 calories.
Acting Management
Nicola Frampton has been with the company since 2021, and previously worked for the gaming group a well-known operator. It is understood that she prefers not to take on the CEO position on a full-time basis.
Frampton stated: “Our team has a multiple current growth and performance initiatives that we will be focused on executing at pace.”
She added these comprised ongoing development on the organization's supply chain and menu innovation, and its rewards program.
The pizza chain is also in need of a permanent finance director until March 16, when Andy Andrea joins from the Irish cider and beer maker C&C Group. For now, Richard Snow is interim finance chief.
Margaret Crane
A tech enthusiast and writer passionate about exploring the latest innovations and sharing practical lifestyle advice.
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