Domino's slices European leadership in senior exec shake-up
Under a raft of senior executive changes revealed on Thursday, Domino's said all regional bosses in Europe would now report directly to Mr van Dyck 'for the foreseeable future'.
Current Europe CEO Andre ten Wolde — who joined the company in 2005 — will shift into the role of group chief marketing officer.
Along with an underperforming Japanese market, Domino's has been battling to revive declining sales in Europe, where earnings fell 11.1 per cent in the first half of the financial year to $32.3 million.
Under other executive changes, group chief portfolio management officer Julianne Dickson will take on the new position of group chief transformation officer.
The global leadership shake-up comes as Domino's prepares to roll out its Recipe for Growth strategy to investors later this year.
'Our team recognise the importance of the work we must deliver, and the outcomes required to improve returns for our franchise partners and our investors,' said Mr van Dyck, who took over from long-time chief executive Don Meij in November.
'We are aligned on returning our business to sustained, long-term growth.'
Mr van Dyck said the company's growth agenda would include a focus on improved return on investment from marketing, including new product development and advertising spending, as well as delivering higher digital conversion.
'Given the importance of delivering top-line growth in improving unit economics and business health, it's critical Domino's has experienced leadership that can bring together insights and best practice to benefit all markets,' he said.
Ms Dickson, who only joined Domino's last year, will be charged with delivering the Recipe for Growth plan alongside Mr van Dyck.
In February, Domino's reported a loss of $22.2m for the six months to the end of December — down from a $57.8m profit a year earlier.
It also revealed it would cop a $115.6m hit in one-off costs associated with the closure of 205 loss-making stores, with 172 of those in the struggling Japanese market.
At the time, Mr van Dyck conceded the company grew too quickly, with many of the stores to close opened during the pandemic, fuelling a surge in sales.
Domino's has 3700 stores across Australia, New Zealand, Europe and Asia.
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The Advertiser
7 hours ago
- The Advertiser
Newcastle to become state's first berthing for luxury superyachts
The Newcastle Cruising Yacht Club will be the beneficiary of $5 million in state funding to expand its berthing marina to accommodate up eight luxe superyachts in a move that it promises will be a boon for the regional tourism economy. Club CEO Paul O'Rourke said there were about 30 superyachts owned in Australia, but the country was a premier destination for repair and vessel maintenance in the Southern Hemisphere such that it was expected to account for some eight per cent of the global market by the end of the year, amounting to around 533 vessels. The funding is expected to be put towards building 200 metres of dedicated marina berth that is specifically designed to accommodate the larger vessels, with extra weight and power facilities. The move to expand the Newcastle marina on Hannell Street is expected to put Newcastle in a competitive stead with Queensland, long regarded as the Australian home for superyacht construction, and will represent the only such dedicated maintenance berth in NSW. Mr O'Rourke said, while Newcastle would not build the vessels, positioning the city as a maintenance hub for the yachts that are estimated to cost between $2 million and $5 million a year to run, would unlock the Pacific for European travellers and see tourism spending flow through the Hunter. "There are probably over 30 superyachts in Australia at the moment," he said. "But the key is there are 100 coming. There are a lot of superyachts in Europe that all want to come to Australia and the Pacific, and at the moment we don't have the Pacific facilities." "We regularly get phone calls from boats out in Tahiti that want to come to Australia and park up. We haven't got the facility yet." Minister for the Hunter Yasmin Catley said the NSW Government's investment of $5 million, to which the Newcastle yacht club would add 20 per cent of the overall $6 million build costs, made sense for the state's second city. "We are a maritime city," she said. "So, it makes sense for us to can have those yachts that can travel from as far far as Europe on their way up to Northern Queensland and to further places into the Pacific." "This will become their go-to stopover." The yacht club's Commodore, Barry Kelly, said the completed projected which is estimated to be about two years away, would be equipped to provide "medium-level" maintenance to the vessels, replacing parts and servicing engines and complex onboard systems, that would generate jobs in the region. "Superyachts spend about four times as much in the region as they do on the berthing," he said. "Our spend on maintaining this facility in the last financial year was about $800,000." The funding has been carved out of the NSW Regional Development Trust, which Regional NSW Minister Tara Moriarty said was to prop up merit-based projects that would create jobs and economic boons for regional economies. "We have made a big deal out of this new fund and this new way of investing in our regions," she said. "This is really going to make a big difference for the local economy." The $70 million Callisto - believed to have been the largest and most expensive yacht to visit Newcastle - was spotted in the marina in 2019. lt is owned by Barbados billionaire Derrick Smith who was reportedly a co-owner of the renowned Coolmore Stud, which has operations in the Upper Hunter, Ireland and the US. The Australian superyacht sector is estimated to have a fleet value of over $7.5 billion, with annual maintenance expenditure of over $575 million. Operational expenditure in Australia, including crew wages and berthing, is worth about $400 million. A proposal document for the project, seen by the Newcastle Herald, lists more than 400 vessels over 30 metres based in the Asia Pacific. The industry is said to support about 14,500 full-time jobs, paying about $1.2 billion in wages and salaries, and with Sydney reaching capacity, overflow was being directed to Queensland and Victoria. The yacht club's pitch to secure funding amounted to positioning Newcastle to cater to provide a state's-first and one-stop shop for the super rich to dock and have their vessels serviced, estimated to represent up to 1400 jobs. According to Superyachts Australia, the number of luxury vessels in NSW has increased by 52 per cent since 2021, with 17 accounted for in 2023. The economic impact of a visiting vessel was estimated to be about $1.34 million that year. The Newcastle Cruising Yacht Club will be the beneficiary of $5 million in state funding to expand its berthing marina to accommodate up eight luxe superyachts in a move that it promises will be a boon for the regional tourism economy. Club CEO Paul O'Rourke said there were about 30 superyachts owned in Australia, but the country was a premier destination for repair and vessel maintenance in the Southern Hemisphere such that it was expected to account for some eight per cent of the global market by the end of the year, amounting to around 533 vessels. The funding is expected to be put towards building 200 metres of dedicated marina berth that is specifically designed to accommodate the larger vessels, with extra weight and power facilities. The move to expand the Newcastle marina on Hannell Street is expected to put Newcastle in a competitive stead with Queensland, long regarded as the Australian home for superyacht construction, and will represent the only such dedicated maintenance berth in NSW. Mr O'Rourke said, while Newcastle would not build the vessels, positioning the city as a maintenance hub for the yachts that are estimated to cost between $2 million and $5 million a year to run, would unlock the Pacific for European travellers and see tourism spending flow through the Hunter. "There are probably over 30 superyachts in Australia at the moment," he said. "But the key is there are 100 coming. There are a lot of superyachts in Europe that all want to come to Australia and the Pacific, and at the moment we don't have the Pacific facilities." "We regularly get phone calls from boats out in Tahiti that want to come to Australia and park up. We haven't got the facility yet." Minister for the Hunter Yasmin Catley said the NSW Government's investment of $5 million, to which the Newcastle yacht club would add 20 per cent of the overall $6 million build costs, made sense for the state's second city. "We are a maritime city," she said. "So, it makes sense for us to can have those yachts that can travel from as far far as Europe on their way up to Northern Queensland and to further places into the Pacific." "This will become their go-to stopover." The yacht club's Commodore, Barry Kelly, said the completed projected which is estimated to be about two years away, would be equipped to provide "medium-level" maintenance to the vessels, replacing parts and servicing engines and complex onboard systems, that would generate jobs in the region. "Superyachts spend about four times as much in the region as they do on the berthing," he said. "Our spend on maintaining this facility in the last financial year was about $800,000." The funding has been carved out of the NSW Regional Development Trust, which Regional NSW Minister Tara Moriarty said was to prop up merit-based projects that would create jobs and economic boons for regional economies. "We have made a big deal out of this new fund and this new way of investing in our regions," she said. "This is really going to make a big difference for the local economy." The $70 million Callisto - believed to have been the largest and most expensive yacht to visit Newcastle - was spotted in the marina in 2019. lt is owned by Barbados billionaire Derrick Smith who was reportedly a co-owner of the renowned Coolmore Stud, which has operations in the Upper Hunter, Ireland and the US. The Australian superyacht sector is estimated to have a fleet value of over $7.5 billion, with annual maintenance expenditure of over $575 million. Operational expenditure in Australia, including crew wages and berthing, is worth about $400 million. A proposal document for the project, seen by the Newcastle Herald, lists more than 400 vessels over 30 metres based in the Asia Pacific. The industry is said to support about 14,500 full-time jobs, paying about $1.2 billion in wages and salaries, and with Sydney reaching capacity, overflow was being directed to Queensland and Victoria. The yacht club's pitch to secure funding amounted to positioning Newcastle to cater to provide a state's-first and one-stop shop for the super rich to dock and have their vessels serviced, estimated to represent up to 1400 jobs. According to Superyachts Australia, the number of luxury vessels in NSW has increased by 52 per cent since 2021, with 17 accounted for in 2023. The economic impact of a visiting vessel was estimated to be about $1.34 million that year. The Newcastle Cruising Yacht Club will be the beneficiary of $5 million in state funding to expand its berthing marina to accommodate up eight luxe superyachts in a move that it promises will be a boon for the regional tourism economy. Club CEO Paul O'Rourke said there were about 30 superyachts owned in Australia, but the country was a premier destination for repair and vessel maintenance in the Southern Hemisphere such that it was expected to account for some eight per cent of the global market by the end of the year, amounting to around 533 vessels. The funding is expected to be put towards building 200 metres of dedicated marina berth that is specifically designed to accommodate the larger vessels, with extra weight and power facilities. The move to expand the Newcastle marina on Hannell Street is expected to put Newcastle in a competitive stead with Queensland, long regarded as the Australian home for superyacht construction, and will represent the only such dedicated maintenance berth in NSW. Mr O'Rourke said, while Newcastle would not build the vessels, positioning the city as a maintenance hub for the yachts that are estimated to cost between $2 million and $5 million a year to run, would unlock the Pacific for European travellers and see tourism spending flow through the Hunter. "There are probably over 30 superyachts in Australia at the moment," he said. "But the key is there are 100 coming. There are a lot of superyachts in Europe that all want to come to Australia and the Pacific, and at the moment we don't have the Pacific facilities." "We regularly get phone calls from boats out in Tahiti that want to come to Australia and park up. We haven't got the facility yet." Minister for the Hunter Yasmin Catley said the NSW Government's investment of $5 million, to which the Newcastle yacht club would add 20 per cent of the overall $6 million build costs, made sense for the state's second city. "We are a maritime city," she said. "So, it makes sense for us to can have those yachts that can travel from as far far as Europe on their way up to Northern Queensland and to further places into the Pacific." "This will become their go-to stopover." The yacht club's Commodore, Barry Kelly, said the completed projected which is estimated to be about two years away, would be equipped to provide "medium-level" maintenance to the vessels, replacing parts and servicing engines and complex onboard systems, that would generate jobs in the region. "Superyachts spend about four times as much in the region as they do on the berthing," he said. "Our spend on maintaining this facility in the last financial year was about $800,000." The funding has been carved out of the NSW Regional Development Trust, which Regional NSW Minister Tara Moriarty said was to prop up merit-based projects that would create jobs and economic boons for regional economies. "We have made a big deal out of this new fund and this new way of investing in our regions," she said. "This is really going to make a big difference for the local economy." The $70 million Callisto - believed to have been the largest and most expensive yacht to visit Newcastle - was spotted in the marina in 2019. lt is owned by Barbados billionaire Derrick Smith who was reportedly a co-owner of the renowned Coolmore Stud, which has operations in the Upper Hunter, Ireland and the US. The Australian superyacht sector is estimated to have a fleet value of over $7.5 billion, with annual maintenance expenditure of over $575 million. Operational expenditure in Australia, including crew wages and berthing, is worth about $400 million. A proposal document for the project, seen by the Newcastle Herald, lists more than 400 vessels over 30 metres based in the Asia Pacific. The industry is said to support about 14,500 full-time jobs, paying about $1.2 billion in wages and salaries, and with Sydney reaching capacity, overflow was being directed to Queensland and Victoria. The yacht club's pitch to secure funding amounted to positioning Newcastle to cater to provide a state's-first and one-stop shop for the super rich to dock and have their vessels serviced, estimated to represent up to 1400 jobs. According to Superyachts Australia, the number of luxury vessels in NSW has increased by 52 per cent since 2021, with 17 accounted for in 2023. The economic impact of a visiting vessel was estimated to be about $1.34 million that year. The Newcastle Cruising Yacht Club will be the beneficiary of $5 million in state funding to expand its berthing marina to accommodate up eight luxe superyachts in a move that it promises will be a boon for the regional tourism economy. Club CEO Paul O'Rourke said there were about 30 superyachts owned in Australia, but the country was a premier destination for repair and vessel maintenance in the Southern Hemisphere such that it was expected to account for some eight per cent of the global market by the end of the year, amounting to around 533 vessels. The funding is expected to be put towards building 200 metres of dedicated marina berth that is specifically designed to accommodate the larger vessels, with extra weight and power facilities. The move to expand the Newcastle marina on Hannell Street is expected to put Newcastle in a competitive stead with Queensland, long regarded as the Australian home for superyacht construction, and will represent the only such dedicated maintenance berth in NSW. Mr O'Rourke said, while Newcastle would not build the vessels, positioning the city as a maintenance hub for the yachts that are estimated to cost between $2 million and $5 million a year to run, would unlock the Pacific for European travellers and see tourism spending flow through the Hunter. "There are probably over 30 superyachts in Australia at the moment," he said. "But the key is there are 100 coming. There are a lot of superyachts in Europe that all want to come to Australia and the Pacific, and at the moment we don't have the Pacific facilities." "We regularly get phone calls from boats out in Tahiti that want to come to Australia and park up. We haven't got the facility yet." Minister for the Hunter Yasmin Catley said the NSW Government's investment of $5 million, to which the Newcastle yacht club would add 20 per cent of the overall $6 million build costs, made sense for the state's second city. "We are a maritime city," she said. "So, it makes sense for us to can have those yachts that can travel from as far far as Europe on their way up to Northern Queensland and to further places into the Pacific." "This will become their go-to stopover." The yacht club's Commodore, Barry Kelly, said the completed projected which is estimated to be about two years away, would be equipped to provide "medium-level" maintenance to the vessels, replacing parts and servicing engines and complex onboard systems, that would generate jobs in the region. "Superyachts spend about four times as much in the region as they do on the berthing," he said. "Our spend on maintaining this facility in the last financial year was about $800,000." The funding has been carved out of the NSW Regional Development Trust, which Regional NSW Minister Tara Moriarty said was to prop up merit-based projects that would create jobs and economic boons for regional economies. "We have made a big deal out of this new fund and this new way of investing in our regions," she said. "This is really going to make a big difference for the local economy." The $70 million Callisto - believed to have been the largest and most expensive yacht to visit Newcastle - was spotted in the marina in 2019. lt is owned by Barbados billionaire Derrick Smith who was reportedly a co-owner of the renowned Coolmore Stud, which has operations in the Upper Hunter, Ireland and the US. The Australian superyacht sector is estimated to have a fleet value of over $7.5 billion, with annual maintenance expenditure of over $575 million. Operational expenditure in Australia, including crew wages and berthing, is worth about $400 million. A proposal document for the project, seen by the Newcastle Herald, lists more than 400 vessels over 30 metres based in the Asia Pacific. The industry is said to support about 14,500 full-time jobs, paying about $1.2 billion in wages and salaries, and with Sydney reaching capacity, overflow was being directed to Queensland and Victoria. The yacht club's pitch to secure funding amounted to positioning Newcastle to cater to provide a state's-first and one-stop shop for the super rich to dock and have their vessels serviced, estimated to represent up to 1400 jobs. According to Superyachts Australia, the number of luxury vessels in NSW has increased by 52 per cent since 2021, with 17 accounted for in 2023. The economic impact of a visiting vessel was estimated to be about $1.34 million that year.
Sydney Morning Herald
16 hours ago
- Sydney Morning Herald
Cheesed off: Swiss meltdown over Trump's ‘incomprehensible' tariff whack
London: Swiss companies are reeling from a shock move by US President Donald Trump to slap a 39 per cent tariff on their exports, stunning brand-name suppliers of luxury watches, jewellery, cheese and chocolate. Swiss chocolate makers have declared the move 'incomprehensible' and are warning it will hit them hard, as the changes flow through to higher prices for American customers. The biggest names in luxury watches, already suffering a slowdown in America after Trump's previous trade decisions, now confront extraordinary price hikes that could lead them to expand sales in other markets. Trump spared Australia from higher penalties in his sweeping trade decision on Thursday, leaving tariffs at 10 per cent for most Australian exports, but he singled out Switzerland with the biggest blow to any European country. At 39 per cent, the new rate is higher than the 31 per cent tariff the president proposed in April – and much worse than Swiss leaders expected. The decision puts the Swiss exporters at a grave disadvantage to competitors in Belgium, France, Germany, Italy and other countries that will incur the 15 per cent tariff applied to the European Union. While Americans may have to pay steeper prices for Bally fashion made in Switzerland, they would incur a more modest price hike for a Dior item made in France or Armani product made in Italy. 'It is incomprehensible why Switzerland is affected by these tariffs, as reciprocity is out of the question,' industry group Chocosuisse said, repeating concerns it aired in April.
The Age
16 hours ago
- The Age
Cheesed off: Swiss meltdown over Trump's ‘incomprehensible' tariff whack
London: Swiss companies are reeling from a shock move by US President Donald Trump to slap a 39 per cent tariff on their exports, stunning brand-name suppliers of luxury watches, jewellery, cheese and chocolate. Swiss chocolate makers have declared the move 'incomprehensible' and are warning it will hit them hard, as the changes flow through to higher prices for American customers. The biggest names in luxury watches, already suffering a slowdown in America after Trump's previous trade decisions, now confront extraordinary price hikes that could lead them to expand sales in other markets. Trump spared Australia from higher penalties in his sweeping trade decision on Thursday, leaving tariffs at 10 per cent for most Australian exports, but he singled out Switzerland with the biggest blow to any European country. At 39 per cent, the new rate is higher than the 31 per cent tariff the president proposed in April – and much worse than Swiss leaders expected. The decision puts the Swiss exporters at a grave disadvantage to competitors in Belgium, France, Germany, Italy and other countries that will incur the 15 per cent tariff applied to the European Union. While Americans may have to pay steeper prices for Bally fashion made in Switzerland, they would incur a more modest price hike for a Dior item made in France or Armani product made in Italy. 'It is incomprehensible why Switzerland is affected by these tariffs, as reciprocity is out of the question,' industry group Chocosuisse said, repeating concerns it aired in April.
