- Push-out Score suggests push-out forces
- After almost 10 years in the position
- Accolades and praise for Travis
- Dave Hoffmann taking over
- Travis will remain as Executive Chairman at Dunkin’ Brands
- Travis spoke at length and said 126 words
(exechange) — Canton, Massachusetts, July 11, 2018 — Nigel Travis, chief executive of Dunkin’ Brands, leaves the position. It is an abrupt change. As announced by Dunkin’ Brands Group, Inc. in a news release and in a regulatory filing published on Wednesday, July 11, 2018, Nigel Travis leaves his post as Chief Executive Officer at the restaurant holding company after almost 10 years in the role, effective immediately.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 9.4 years, according to data compiled by exechange.
Travis’s duties will be taken over by David L. (Dave) Hoffmann, currently President of Dunkin’ Donuts U.S.
“We recruited Dave to Dunkin’ Brands 18 months ago with the intent that he would succeed me as CEO”
Travis’s sudden departure from the CEO post is explained as follows. Travis said: “When we recruited Dave to Dunkin’ Brands 18 months ago with the intent that he would succeed me as CEO, we knew that we were getting a world-class leader with extensive restaurant industry expertise, and he has exceeded all of our expectations.”
Travis will remain as Executive Chairman at Dunkin’ Brands
“Additionally, the Company announced that Mr. Travis has been named Executive Chairman of the Board of Directors and will remain actively involved with the Company, with a particular focus on the continued development of the international businesses,” Dunkin’ Brands said.
Dunkin’ Brands said: “Mr. Travis is retiring from the role he has held since January 2009.”
Dunkin’ Brands further said: “On July 11, 2018, Dunkin’ Brands Group, Inc. … announced the retirement of Nigel Travis as the Company’s Chief Executive Officer and the appointment of David Hoffmann, currently President, Dunkin’ Donuts U.S., to the additional role of Chief Executive Officer of the Company, each effective July 11, 2018.”
Share price rise since January 2016
The change follows a rise in the share price of Dunkin’ Brands Group, Inc. since January 2016.
In the position of CEO since 2009
Travis has served as Chief Executive Officer of Dunkin’ Brands since January 2009 and assumed the additional role of Chairman of the Board in May 2013.
From 2005 through 2008, Travis served as President and Chief Executive Officer, and on the board of directors of Papa John’s International, Inc., a publicly-traded international pizza chain.
Prior to Papa John’s, Travis was with Blockbuster, Inc. from 1994 to 2004, where he served in increasing roles of responsibility, including President and Chief Operating Officer.
Travis previously held numerous senior positions at Burger King Corporation.
Travis currently serves as a director of Office Depot, Inc. and formerly served on the board of Lorillard, Inc.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Nigel Travis’s sudden move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 29.2018 ($).