- Signs for push-out forces
- After almost five years on the job
- Thanks and good wishes for Carbone
- Kate Jaspon taking over in the interim
- Search for a successor
(exechange) — Canton, Massachusetts, March 23, 2017 — Paul Carbone, finance chief of Dunkin’, leaves. It is a change at short notice. As announced by Dunkin’ Brands Group, Inc. in a news release and in a regulatory filing published on Thursday, March 23, 2017, Paul C. Carbone, Chief Financial Officer, leaves the restaurant holdings company in a surprising move after almost five years on the job, effective April 21, 2017.
Dunkin’ will undertake a search for a successor.
Carbone’s duties are taken over in the interim by Kate Jaspon, currently Vice President, Finance and Treasurer at Dunkin’ Brands Group, Inc.
Dunkin’ Brands Group, Inc. is the parent company of Dunkin’ Donuts and Baskin-Robbins.
The imminent management change is explained as follows. Dunkin’ said: “Paul Carbone, Dunkin’ Brands Chief Financial Officer (CFO), is leaving the Company effective April 21, 2017, for a general management position in the specialty retail industry, where he worked prior to joining Dunkin’ Brands.”
Exact details about Carbone’s new position were not immediately available.
Dunkin’ said: “On March 18, 2017, Paul Carbone, Chief Financial Officer of Dunkin’ Brands Group, Inc. … notified the Company that he is resigning from the Company effective as of April 21, 2017.”
Share price rise since January 2016
The change follows a rise in the share price of Dunkin’ Brands Group, Inc. since January 2016.
Janus holds 9.75 percent stake
Janus Capital Management, LLC reported a 9.75 percent stake in Dunkin’ Brands Group, Inc. as of December 31, 2016.
Chaired by Nigel Travis
Dunkin’ Brands Group, Inc. is chaired by Nigel Travis.
Nigel Travis was named Chief Executive Officer of Dunkin’ Brands in January 2009 and appointed to the additional role of Chairman of the Board in May 2013.
On the job as CFO since 2012
Paul Carbone joined Dunkin’ Brands in August 2008 as Vice President, Financial Planning & Analysis.
In June 2012, Carbone was named Chief Financial Officer for Dunkin’ Brands.
In this role, Carbone is responsible for the Company’s finance, investor relations, strategy, loss prevention, and information technology functions.
Prior to joining Dunkin’ Brands, Carbone served as Senior Vice President and Chief Financial Officer for Tween Brands, Inc., where he had responsibility for the Company’s financial functions, loss prevention and travel management.
Before Tween Brands, Carbone also served in financial leadership roles for several retail organizations.
Earlier in his career, Carbone was a successful entrepreneur, who founded and operated three companies, including a bakery outlet in Boston, Mass.
Carbone received his BS from the University of Massachusetts, his BSBA from the University of South Carolina, and his MBA from the University of Illinois.
Signs for push-out forces
It is not completely certain what forces eventually triggered Paul Carbone’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 13.2017 ($).