Domino's Pizza keeps slicing the top brass, this time in Japan
The $2.1 billion ASX-listed company on Tuesday said its Asia chief executive Josh Kilimnik would take on interim responsibility for operations in Japan, effective immediately.
While Domino's said it would cast a wide net and undertake a globe search for a permanent replacement over the next six months, it would favoured a Japanese national with proven turnaround and operational expertise.
Domino's current man in Japan, Martin Steenks, has been shifted to the country's chief operating officer.
The market continues to cause headaches for the company, which has already announced the closure of 172 stores in the country after conceding its network grew too quickly during COVID-19.
Many of the stores targeted for closure opened during the pandemic, fuelling a surge in sales. Those stores have since struggled as demand declined and costs and inflation soared.
Newly installed Domino group chief executive Mark van Dyck said the changes were about having the right people in the right roles to improve store-level performance and better support franchisees.
'This leadership transition allows Martin to focus fully on driving operational improvements while we recruit a permanent CEO with deep local knowledge and commercial experience,' Mr van Dyck said.
The changes in Japan add further to turbulent times among Domino's top brass, including last month's shock departure of Australian and New Zealand division boss Kerri Hayman — sister of long-time former group CEO Don Meij.
Ms Hayman — who has worked for Domino's for 37 years across Australia, the UK and the US — said the time was right to exit.
A month earlier, Mr van Dyck revealed that all regional bosses in Europe would now report directly to him 'for the foreseeable future'. Current Europe CEO Andre ten Wolde — who joined the company in 2005 — shifted into the role of group chief marketing officer.
The leadership reshuffles come as Domino's prepares to roll out its Recipe for Growth strategy to investors later this year aimed at reviving declining sales.
The company reported a $22.2 million loss in the first half of the financial year after revealing hefty restructuring costs related to its mass store closures.
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