(Bloomberg) – Shares of Domino’s Pizza Enterprises Ltd. has tumbled to their lowest since 2013 after the company said that the CEO of the group and managing director Mark of Dyck will step down after just one year in the role. The share fell as much as 26% in Sydney on Wednesday after the company in Brisbane said Van Dyck would leave in December. Billionaire -Kitskos -Magnate Jack Cowin was immediately employed as interim executive chairman, according to an exchange statement. “This announcement is a surprise and contributes to the uncertainty” at a time when Dominoes are trying to restore his business, Morgan Stanley analysts wrote in a note. The departure comes after a review of the world’s world leadership over the past year. Van Dyck succeeded CEO and managing director Don Meij, who was with Domino’s for almost 40 years in November. Cowin is the largest shareholder of the company and has already been his chairman. He is also the chairman and managing director of CFAL Group, operator of the Hungry Jack’s Chain, who holds the Master Ranchise for Burger King in Australia. The board undertakes a global search process for a new group of CEO, says a statement. Van Dyck supervised the closing of 205 underperforming stores in Europe, Japan, Australia and New Zealand. “With a clear strategy and a strong team in place, I believe that the time at the end of this calendar year will be to surrender to the next CEO,” Van Dyck said in the statement. Kerri Hayman, CEO of the company, will step down in August, it rang in May. (Updates share price housing, add comments to analysts in the 3rd paragraph) More stories like these are available on Bloomberg.com © 2025 Bloomberg LP
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