Former McDonald's International Executive to Lead Dunkin' Brands -- Update
12 July 2018 - 12:52AM
Dow Jones News
By Austen Hufford
The owner of Dunkin' Donuts and Baskin-Robbins said Chief
Executive Nigel Travis has left his position, ending a more than
nine-year tenure where he brought the company public and extended
the domestic and international reach of its brands.
Dunkin' Brands Group Inc. on Wednesday named David Hoffmann as
its new CEO, with Mr. Travis transitioning to the role of executive
chairman. Mr. Travis said Mr. Hoffman was hired from McDonald's
Corp. with the intent of him becoming the company's next
leader.
Mr. Travis, 68, had been CEO since January 2009. Dunkin' said
its new executive chairman will focus on the continued development
of the company's international businesses. During Mr. Travis's
tenure as CEO, the company entered 25 international markets and
added almost 6,000 restaurants globally. Dunkin' also launched its
consumer packaged-goods line. The company said in its most recent
annual report that it is the highest-selling national brand of
K-Cups, the single-serving coffee pods used in Keurig machines.
Mr. Hoffmann, 50, joined the company in October 2016 as
president of Dunkin' Donuts U.S. He was also in charge of global
franchising and store development for both the ice cream and coffee
brands.
Before joining the company, Mr. Hoffmann spent 22 years with
McDonald's, where he most recently was in charge of high-growth
markets, an area that included China, South Korea, Russia and
several European countries.
In July 2011, Dunkin' priced its initial public offering at $19
a share. Shares were recently trading at $70.48, down 0.7%, and
have risen 30% over the last 12 months. Before joining Dunkin', Mr.
Travis was CEO of pizza chain Papa John's International Inc. and,
before that, chief operating officer of movie-rental company
Blockbuster Inc.
(END) Dow Jones Newswires
July 11, 2018 10:37 ET (14:37 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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