Dive Brief:
- Domino’s has appointed Joe Jordan as CEO, effective Oct. 1, upon Russell Weiner’s retirement from the chain, the company said in a Monday release. Weiner has served as CEO since 2022.
- When he retires, Weiner will become executive chairman designate and then later executive chairman at the company’s 2027 annual shareholder meeting. David Brandon, current executive chairman, will retire and not stand for reelection to the board of directors after 28 years with the company.
- Jordan, who has served as chief operating officer and president for Domino’s U.S. since last year, will also join the board of directors in October. He has worked at the chain for nearly 15 years with roles in marketing, U.S. and international operations, technology and franchisee support.
Dive Insight:
Jordan’s promotion comes at a time of disruption in the QSR pizza space. Rival chains Papa Johns and Pizza Hut have closed stores. Pizza Hut, minus its China business, was sold by Yum Brands to a private equity firm last week for $1.5 billion.
Domino’s continues to post positive same-store sales during the past few quarters. Weiner said in April he expected his top competitors would close more stores as they try to compete with Domino’s value by offering more discounts. As a result, franchisees will continue to struggle with profitability and need to close, Weiner said. Earlier this year, he predicted Domino’s had room to capture half of the QSR pizza market.
Jordan brings significant experience to his new post, with a track record for driving growth and innovation at Domino’s.
He has helped the chain grow sales and led its international business through record expansion, including the addition of 3,000 units. Jordan also has overseen various initiatives, including the re-launch of Domino’s rewards and e-commerce platforms, the rollout of the chain’s global digital marketplace partnerships and leveraging strong partnerships across the system.
“[Jordan] embodies Domino's culture of developing leaders from within, has earned the trust of franchisees across our global system and is uniquely qualified to guide the Company through its next phase of growth,” Brandon said in a statement. “At the same time, Russell is one of the most innovative, strategic leaders in our industry, and Domino's will continue to benefit from his creativity, franchisee relationships and extensive knowledge of the QSR category in his role as Executive Chairman.”
Weiner will serve as CEO until Sept. 30 and then transition to his new role on the board on Oct. 1. He will provide counsel to the board and Jordan and support the brand following his 18 years in executive roles.
Weiner has been instrumental at the company, deploying a turnaround strategy in 2010 that led to many years of positive momentum, Brandon said in a statement. While he was CEO, he developed the Hungry for MORE strategy, which continues to be a driver of sales and store growth, Brandon added.
During Weiner’s CEO tenure, the company added net store growth of more than 3,200 units and increased its global sales by nearly $3 billion, while delivering an almost 30% increase in operating income.
“With a leadership team that combines deep operational expertise, strategic vision and strong franchisee relationships, Domino's enters its next chapter focused on accelerating growth, strengthening its global leadership position and continuing to raise the bar on delicious food at renowned value for customers around the world,” the company said in the release.
