- Push-out Score determined
- After less than four years in the position
- Accolades, praise and thanks for Allison
- Russell Weiner taking over
- Allison spoke at length and said 151 words
(exechange) — Ann Arbor, Michigan, March 1, 2022 — Ritch Allison, chief executive of Domino’s Pizza, leaves his position. As announced by Domino’s Pizza Inc. in a news release and in a regulatory filing published on Tuesday, March 1, 2022, Richard E. (Ritch) Allison leaves his post as chief executive officer at the pizza restaurant chain, after less than four years in the role, effective April 30, 2022.
Allison leaves the company effective July 15, 2022.
Ritch Allison’s duties as CEO will be taken over by Russell J. Weiner, currently Chief Operating Officer and President – Domino’s U.S.
Ritch Allison’s move coincides with a management shake-up also involving the position of Chief Financial Officer.
In connection with the announcement, David A. Brandon will transition from Chairman of the Board to the newly established position of Executive Chairman, effective May 1, 2022.
“New phase of growth”
Domino’s Pizza did not give an explicit reason for Ritch Allison’s departure from the CEO post. David A. Brandon said: “As we enter a new phase of growth for the Company, we believe Russell’s energy, inspirational leadership style and earned respect of our Team Members and Franchisees make him the right choice to take Domino’s forward.”
Precise information regarding Ritch Allison’s future plans was not immediately available.
“Retire”
Domino’s Pizza said: “Ritch Allison has informed the Board of Directors of his intention to retire from the Company.”
Domino’s Pizza further said: “On February 24, 2022, Mr. Richard E. Allison, Jr. informed Domino’s Pizza, Inc. (the “Company”) that he will retire from his position as the Company’s Chief Executive Officer effective at 11:59 p.m. on April 30, 2022.”
Share price increase since July 2018
The announcement follows an increase in Domino’s Pizza Inc.’s share price of 54% since July 2018. July 2018 is the month in which Allison’s tenure as CEO began.
In the position of CEO since 2018
Ritch Allison became CEO of the Company in 2018.
Allison will continue to provide his guidance and expertise to the Company in an advisory capacity until he retires from Domino’s on July 15, 2022.
Allison will continue to serve as Chief Executive Officer through April 30, 2022 and will remain on the Domino’s Board of Directors until the Company’s 2022 Annual Meeting of Shareholders on April 26, 2022.
Richard E. Allison, Jr. has served as Chief Executive Officer of Domino’s since July 2018.
Allison oversees all company operations, strategy and vision in his role as Chief Executive Officer.
He previously served as President, Domino’s International from October 2014 to July 2018, after joining the Company in March 2011 as Executive Vice President of International.
Prior to joining Domino’s, Allison worked at Bain & Company, Inc. for more than 13 years, serving as a Partner from 2004 to December 2010, and as co-leader of Bain’s restaurant practice, working with some of the world’s most well-known restaurant brands.
Allison has served on Domino’s Board of Directors since July 2018, when he was elected in conjunction with his appointment as Chief Executive Officer.
Allison also serves on the Board of Directors of Starbucks Corporation.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Ritch Allison’s move on a scale of 0 to 10.
exechange reached out to Domino’s Pizza and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 10.2022 ($).