Domino’s declares CFO transition plan

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ANN ARBOR, Michigan, Might 19, 2021 // PRNewswire // – Domino’s Pizza Inc. (NYSE: DPZ), the world’s largest pizza firm primarily based on international retail gross sales, at this time introduced that Stuart A. Levy might be leaving the corporate to pursue different alternatives. As he steps down as Govt Vice President and Chief Monetary Officer efficient instantly, Mr. Levy will stay with the Firm as an advisor till August 31, 2021 to make sure a easy transition.

The corporate started the seek for the subsequent CFO with the assistance of Heidrick & Struggles. Efficient instantly, Ritch Allison, CEO of Domino, will assume oversight of a brand new CFO workplace comprised of Ryan Goers, vp, finance, international monetary planning and evaluation; Juan Jose Joachin, Vice-President, Monetary Operations; and Jessica L. Parrish, Vice President, Company Controller and Treasurer till the brand new CFO is in place.

“At Domino’s, now we have a proficient and devoted finance and accounting group – and I’ve no doubts that we are going to proceed to attain our monetary objectives as we establish a brand new CFO,” stated Mr. Allison. “We proceed to give attention to offering distinctive meals and repair to our prospects around the globe, as evidenced by sturdy progress in retail gross sales and one other report yr of franchisee profitability.” Domino’s model and worth proposition are as sturdy as they’ve ever been and we stay assured in our long-term prospects. “

“On behalf of everybody at Domino’s, I want to thank Stu for his contribution, together with his management all through the advanced challenges of the pandemic,” continued Mr. Allison. “We’ve maintained and constructed on our monetary energy, invested within the capability required to assist the long-term progress of the model and offered important shareholder worth, whereas placing our group members and prospects first.

“Domino’s is effectively positioned to proceed its spectacular report of world progress,” stated Mr. Levy. “It has been a privilege to work with the unbelievable group members and franchisees who make Domino’s such an iconic model and I’ve no doubts that it is going to be a easy transition.”

Mr. Levy’s departure will not be the results of any disagreement relating to the presentation of economic info or the insurance policies, procedures, estimates or judgments of the corporate.

Protected Harbor Declaration below the Personal Securities Litigation Reform Act 1995:

This press launch comprises numerous forward-looking statements concerning the firm inside the that means of the Personal Securities Litigation Reform Act of 1995 (the “Act”) that are primarily based on present expectations of administration which contain substantial dangers and uncertainties that will trigger range the precise outcomes. materially from the outcomes expressed or implied by these forward-looking statements. The next cautions are made in accordance with the provisions of the regulation and with the intention of profiting from the “protected harbor” provisions of the regulation. You possibly can establish forward-looking statements by utilizing phrases corresponding to “anticipates”, “believes”, “may”, “ought to”, “believes”, “expects”, “intends”, “might”, ” might be ”,“ plans ”,“ predicted ”,“ initiatives ”,“ seeks ”,“ roughly ”,“ potential ”,“ prospects ”and related phrases and expressions that relate to our technique, plans or intentions, together with references to hypotheses. These forward-looking statements deal with quite a lot of issues, together with info relating to future working outcomes and enterprise technique, our anticipated profitability, estimates of comparable retailer gross sales progress, the expansion of our enterprise in the US and in the US. internationally, our potential to service our debt, our future money flows our working efficiency, developments in our enterprise and different descriptions of future occasions replicate the corporate’s expectations primarily based on the knowledge and information at present accessible . Though we imagine these expectations and projections are primarily based on affordable assumptions, these forward-looking statements are inherently topic to dangers, uncertainties and assumptions. Vital elements that might trigger precise outcomes to vary materially from our expectations are described in additional element in our filings with the Securities and Alternate Fee, together with within the part entitled “Danger Elements” in our annual report on Kind 10-Okay for the closed fiscal yr. January 3, 2021. Precise outcomes might differ materially from these expressed or implied in forward-looking statements resulting from numerous elements, together with, however not restricted to: our substantial elevated indebtedness on account of our recapitalization transactions and our potential to contract further debt or refinance or renegotiate the important thing phrases of this debt sooner or later; the impression {that a} downgrade in our credit standing may have on our enterprise, monetary situation and outcomes of operations; our future monetary efficiency and our potential to pay principal and curiosity on our debt; our potential to handle the challenges related to or associated to the COVID-19 pandemic and the consequences of COVID-19 on our enterprise and provide chain; the effectiveness of our promoting, operations and promotional initiatives; the energy of our model, together with our potential to compete in the US and internationally in our extremely aggressive business, together with the restaurant and meals supply markets; the impression of social media and different consumer-centric applied sciences on our enterprise, model and status; the impression of recent or improved applied sciences and different supply strategies on client habits; new merchandise, digital controls and idea developments by us and different rivals within the meals business; our potential to take care of good relationships with and entice new franchisees, and the flexibility of franchisees to efficiently handle their operations with out harming our royalty and charge funds or our model status; our potential to efficiently implement price discount methods; our potential and that of our franchisees to function efficiently within the present and future credit score surroundings; modifications within the stage of client spending bearing in mind normal financial circumstances, together with rates of interest, power costs and client confidence; our potential and that of our franchisees to open new eating places and preserve current eating places in operation; modifications in working bills ensuing from modifications within the costs of meals (particularly cheese), gas and different primary merchandise, labor, utilities, insurance coverage, worker advantages and ‘different working prices; the impression that generalized illness, well being epidemics or normal well being issues, excessive climate circumstances and pure disasters can have on our enterprise and the economies of the nations by which we function; modifications in international foreign money change charges; modifications in earnings tax charges; our potential to retain or change our senior executives and different key administration personnel and our potential to adequately employees our shops and provide chain facilities with certified personnel; our potential to search out and / or retain appropriate actual property for our shops and provide chain facilities; modifications in authorities legal guidelines and rules, together with modifications in legal guidelines and rules referring to info privateness, cost strategies, client safety and social media; unfavorable judgments or court docket settlements; foodborne sickness or product contamination; information breaches, energy outages, know-how failures, person errors or different cyber dangers that threaten us or our franchisees; the consequences of warfare, terrorism, catastrophic occasions or local weather change; our potential to pay dividends and repurchase shares; modifications in client tastes, spending and visitors patterns, and demographic developments; the actions of activist traders; modifications in accounting strategies; and the adequacy of our insurance coverage protection. In view of those dangers, uncertainties and assumptions, the forward-looking occasions referred to on this press launch might not happen. All forward-looking statements converse solely as of the date of this press launch and needs to be evaluated with their inherent uncertainty in thoughts. Until required by federal securities legal guidelines and the principles and rules of the Securities and Alternate Fee, or every other relevant regulation, we won’t undertake, and particularly disclaim, any obligation to publicly replace or revise the forward-looking statements to replicate occasions or circumstances. occurring after the date of this press launch, whether or not on account of new info, future occasions or in any other case. You’re cautioned to not place undue reliance on any forward-looking statements included on this press launch or that could be made elsewhere once in a while by us or on our behalf. All forward-looking statements for which we’re accountable are expressly certified by these cautionary statements.

SOURCE Domino’s Pizza®

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