Latest news with #VanDyck
Time of India
02-07-2025
- Business
- Time of India
Domino's Australia franchise CEO steps down
HighlightsMark van Dyck, the Chief Executive Officer and Managing Director of Domino's Pizza Enterprises, will step down before Christmas this year, causing the company's shares to plummet approximately 16%. In his eight months in charge, Van Dyck implemented cost-saving measures and closed low-volume stores as the company faced declining sales in a post-COVID environment. Domino's Pizza Enterprises is beginning a global search for a new Chief Executive Officer, with Chairman Jack Cowin stepping in as the interim executive chair. Domino's Pizza Enterprises said on Wednesday its CEO and managing director, Mark van Dyck , would step down before Christmas this year, sending the Australian franchise operator's shares plummeting about 16% to their weakest in over 11 years. Van Dyck, a former Coca-Cola executive, took over from the franchise operator's longstanding head, Don Meij, in November last year as the company struggled to maintain sales in a post-COVID era. In eight months, Van Dyck laid the groundwork for a turnaround, closing low-volume stores and initiating cost-saving measures. His departure, effective December 23, sent the stock spiralling. Shares ended 15.8% lower at A$16.96 apiece, their lowest since February 2014, and logged their worst session since late January 2024. The stock was the second biggest loser in the ASX 200 benchmark on the day, and has lost 90% of its value since scaling an all-time high in September 2021, when pizza sales surged and the company was mapping out expansion plans for the coming decade. "A new CEO will take some time to appoint, raising the risk (of an) extended period of sub-par execution and lost earnings and further talent loss," said John Lockton, head of investment strategy at MST Financial. The company's underlying profit declined 8% in 2024 and was 36% below its record 2021 profit . A consensus of analyst estimates forecasts an 85% slump in fiscal 2025 profit, per Visible Alpha. The board has begun a global search to replace the incumbent CEO, the firm said. Chairman Jack Cowin, who has over five decades of experience in the quick-service restaurant sector and is the company's largest shareholder, will assume the role of interim executive chair . Cowin was one of the founders of KFC in Australia and played a key role in Domino's expansion into Europe and Asia. Domino's Pizza Enterprises runs the largest master franchise of the U.S.-based Domino's Pizza in 12 countries across Asia, Europe, Australia and New Zealand. Japan accounts for around a fifth of its stores.
Mint
02-07-2025
- Business
- Mint
Domino's Australia Shares Sink as CEO Plans Exit After One Year
(Bloomberg) -- Shares of Domino's Pizza Enterprises Ltd. tumbled to their lowest since 2013 after the company said Group Chief Executive Officer and Managing Director Mark van Dyck will step down after just one year in the role. The stock fell as much as 26% in Sydney on Wednesday after the Brisbane, Australia-based company said Van Dyck will leave in December. Billionaire fast food magnate Jack Cowin has been appointed interim executive chairman effective immediately, according to an exchange statement. 'This announcement is a surprise and adds to the uncertainty' at a time when Domino's is attempting to reset its business, Morgan Stanley analysts wrote in a note. The departure comes after an overhaul of the firm's global leadership in the past year. Van Dyck succeeded CEO and Managing Director Don Meij, who had been with Domino's for almost 40 years, in November. Cowin is the company's biggest shareholder and was already its chairman. He is also the chairman and managing director of CFAL Group, operator of the Hungry Jack's chain, which holds the master franchise for Burger King in Australia. The board is undertaking a global search process for a new group CEO, it said in a statement. Van Dyck oversaw the closure of 205 underperforming stores in Europe, Japan, Australia and New Zealand. 'With a clear strategy and strong team in place, I believe the time will be right at the end of this calendar year to hand over to the next CEO,' Van Dyck said in the statement. The company's ANZ CEO Kerri Hayman will step down in August, it said in May. (Updates share price move, adds analyst comments in 3rd paragraph) More stories like this are available on
Yahoo
06-06-2025
- Business
- Yahoo
Airbnb names new CMO on tails of major platform overhaul
This story was originally published on Marketing Dive. To receive daily news and insights, subscribe to our free daily Marketing Dive newsletter. Airbnb has named Rebecca Van Dyck as chief marketing officer as it enacts a major push beyond vacation rentals into offering more travel services and experiences, according to a company blog post. Hiroki Asai, who has acted as the platform's global head of marketing since 2020, is moving into the newly created role of chief experience officer, where he will oversee Van Dyck. Van Dyck's resume includes past stints at Meta, Apple, Levi Strauss and creative agency Wieden + Kennedy. She departed Meta in 2022 after acting as chief operating officer of its Reality Labs division dedicated to developing virtual reality products and the metaverse. The executive began working with Airbnb earlier this year in a consultative capacity. As CMO, she will lead marketing, research and creative teams while helping guide Airbnb's product development. Hiroki will continue to steward Airbnb's marketing, design, product and community units, but with a sharper focus on the end-to-end experience for guests and hosts and the platform's overall product roadmap. In an email to employees, Airbnb Co-founder and CEO Brian Chesky said he has been trying to get Van Dyck on board since first meeting her in 2012. 'We're in the midst of a major transformation as a company — Airbnb is now more than a place to stay,' said Chesky. 'As we launch two new businesses, we need people around the world to understand this shift, and Becca brings exactly the kind of leadership we need for this moment.' Airbnb last month overhauled its app with a reimagining of its Experiences feature that aids users in identifying must-do activities at their travel destinations, such as tours and local hot spots. The company also introduced Airbnb Services, which allows people to connect with professionals like chefs, photographers and massage therapists. The idea behind the latter tool is to go toe-to-toe with the amenities available at a hotel. To complement the platform makeover, the brand recently launched an ad campaign with spots that use colorful animation to illustrate how Airbnb Experiences bring a sense of discovery back to travel. The effort also has a hefty amount of social-only content targeted around popular cities to vacation like Florence, Lisbon and London. Recommended Reading Why Airbnb booked a social-first campaign for its experiences relaunch
