Domino's announced Tuesday that CEO Ritch Allison plans to retire this summer.
He will be succeeded by Russell Weiner, the pizza chain's COO and U.S. president.
Allison will remain CEO through April 30 and on the board of directors until the Annual Meeting of Shareholders on April 26. He will serve in an advisory capacity until his retirement on July 15.
"Serving at Domino's for more than a decade, including the last four years as CEO, has been the privilege of a lifetime," Allison said in a statement. "During that time, we and our franchises have achieved tremendous growth and today the Domino's brand is as strong as ever. While there is much that I will remember fondly, I am most proud of the culture that ties us all together—the 'sauce in our veins' that makes Domino's so special."
He joined Domino's in 2011 as executive vice president of international business, and worked in that capacity for roughly three and a half years. He then served as president of international for nearly four years before transitioning to CEO in July 2018. Prior to Domino's, Allison spent more than 13 years at business consulting firm Bain & Co.
"Domino's has the best franchisees in the world and I am grateful for them, along with our incredible store managers, and team members," Allison said. "With Russell as CEO and with the addition of Sandeep as CFO, supported by the rest of our leadership team, I am comfortable and confident stepping aside, knowing that Domino's has strong leaders who are passionate and committed to our business. I look forward to watching the Company continue to grow under their guidance."
Weiner entered Domino's in 2008 as chief marketing officer and became president of Domino's USA in October 2014. In July 2018, he was named COO and president of the Americas. Two years later, his title switched to COO and U.S. president. During his tenure of more than a dozen years, U.S. retail sales have grown from $3 billion to $8 billion, digital mix has skyrocketed from 11.5 percent to more than 75 percent, store count has expanded by more than 25 percent, and market share has more than doubled.
In his current role, he's overseen teams responsible for marketing, operations, store growth and development, franchise relations, analytics and insights, and e-commerce.
"I am honored to lead this great company and brand that I love," Weiner said in a statement. "Domino's became the No. 1 pizza company in the world through a relentless focus on our customers and every aspect of their pizza experience. That focus is as strong as ever and I am excited to work with our talented leaders, team members and franchisees to deliver the next phase of Domino's growth. I thank Ritch for his leadership and collaboration and look forward to working with him to ensure a seamless transition."
Also, as part of the leadership switches, David Brandon will transition in May from chairman of the board to the newly established position of executive chairman. Additionally, Sandeep Reddy, the CFO of Six Flags, will serve as Domino's new CFO in April.