TIDMDOM
RNS Number : 5141F
Domino's Pizza Group PLC
10 March 2020
LEI: 213800Q6ZKHAOV48JL75
10 March 2020
Domino's Pizza Group plc
Chairman Appointment
Domino's Pizza Group (Domino's) today announces the appointment
of Matt Shattock as a Director and Chairman with effect from 16
March 2020. Mr Shattock will also be a member of the Remuneration
Committee and Chairman of the Nomination Committee.
Matt is a highly experienced executive who has operated at the
highest level in the consumer sector for many years. He is
currently non-executive Chairman of Beam Suntory Inc., a role he
has held since April 2019. He first joined Beam Inc. in 2009 as
President and CEO, leading its successful growth strategy and
overseeing the integration of the Beam and Suntory spirits
businesses as CEO of the combined group following Beam's $16bn
acquisition by Suntory Holdings Limited.
Prior to joining Beam, Matt held senior roles at Cadbury plc and
Unilever. In addition to his role at Beam Suntory, he also serves
on the boards of The Clorox Company and VF Corporation. Matt
studied at Durham University and was a tank troop leader in the
British army before entering business.
Matt's appointment is a crucial step in the evolution of
Domino's Board, following a number of significant appointments in
2019. These included Ian Bull as Senior Independent Director, as
well as former Tim Hortons CEO Elias Diaz Sese and Browning West LP
founder and Managing Partner Usman Nabi who were appointed
Non-Executive Directors. All three have been involved in what has
been an extensive global search to identify a world class Chair
capable of leading the business to achieve its full potential.
As previously announced, the Chairman's appointment will be
followed by that of a new CEO to replace David Wild, and a new CFO,
following the tragic death of David Bauernfeind in December 2019.
Matt will lead the processes to identify both these individuals,
working with the Nomination Committee of the Board.
At last week's preliminary results, Domino's set out four clear
priorities to unlock the potential of the business. Those four
priorities are
-- Recruit a Chair, CEO and CFO and oversee a managed board succession
-- Reinforcing our UK and Ireland core business with ambitious
plans to be the best master franchisor in the system
-- Rebuild relationships with our franchisee partners
-- Find the right owners for the brand in our International territories
Today's announcement is an important milestone for the business
both in terms of these priorities, and to unlock the significant
future growth opportunity for Domino's.
Ian Bull, Interim Chairman, said: 'This is an important moment
in the turnaround of Domino's, and I am delighted to have secured a
Chairman of Matt's calibre. During what has been an extremely
rigorous search process led by Usman and I, we have been clear that
we need world class leaders to take Domino's to the next level and
fulfil its enormous potential. In Matt we believe we have found a
Chairman who absolutely fits this description. He has extensive and
highly relevant experience in the consumer sector, including B2B
and B2C relationships, which will be crucial as Domino's seeks to
rebuild relationships with its franchisees and return to profitable
growth.'
Matt Shattock said: 'I couldn't be more excited to be joining
Domino's as Chairman. This is a good business today but with its
powerful brand and some of the best franchisees in the world, it
has the potential to be an outstanding business. My priorities will
be building the new executive leadership, while also getting out to
know the business, meeting colleagues and engaging with our
franchisees to build a constructive relationship. I firmly believe
that by working together we can build an exciting and profitable
future for our people, our franchisees and our shareholders.'
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulations (EU) No. 596/2014
("MAR") and is disclosed in accordance with Domino's obligations
under Article 17 of MAR.
The person responsible for making this notification is Adrian
Bushnell, Company Secretary
For further information, please contact:
For Domino's Pizza Group plc:
Bethany Barnes
Head of Investor Relations: 07387 015695
Brunswick:
Tim Danaher
Samantha Chiene
020 7404 5959
About Domino's Pizza Group
Domino's Pizza Group plc is the UK's leading pizza brand and a
major player in the Irish market. We hold the master franchise
agreement to own, operate and franchise Domino's stores in the UK,
the Republic of Ireland, Switzerland and Liechtenstein. In
addition, we have a controlling stake in the holders of the
Domino's master franchise agreements in Iceland, Norway and Sweden,
as well as associate investments in Germany and Luxembourg.
Disclosure in accordance with Listing Rule 9.6.13(6)R
From 2005 to April 2008 Mr Shattock was a Cadbury plc appointee
on the board of Cadbury Nigeria plc, a company in which Cadbury plc
had a minority interest until February 2006 when it acquired a
majority holding. Following its acquisition of a majority holding,
Cadbury plc investigated accounting irregularities at Cadbury
Nigeria plc during the period 2002 to 2005, a period in which
Cadbury plc had a minority interest. Based upon these findings,
which were shared with the Nigerian SEC, the board of Cadbury
Nigeria plc removed the CEO & CFO from the business.
In April 2008 the Nigerian SEC took a unilateral decision to
suspend all of the individuals who had been directors of Cadbury
Nigeria at the time of the alleged irregularities from operating in
Nigerian capital market, financial services and Nigerian public
company directorships. The restrictions, which included lifetime
bans and five-year suspensions for some directors, applied to Mr
Shattock for only one year. Cadbury plc noted at the time that the
Nigerian SEC had proceeded to reach decisions without hearing or
taking the defence/clarifications of Cadbury Nigeria, or its
directors and officers, in the proceedings.
No further information is required to be disclosed pursuant to
Listing Rule 9.6.13R in respect of Mr Shattock's appointment
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END
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