Domino’s announced Wednesday that CFO Stu Levy will leave the company to pursue other opportunities. While he is stepping down from his role as executive vice president and chief financial officer effective immediately, Levy will continue with the company in an advisory capacity until August 31 to ensure a smooth transition.
The company has commenced a search for the next CFO with the assistance of Heidrick & Struggles. Effective immediately, CEO Ritch Allison will assume oversight of a newly established Office of the CFO until a new executive is in place. The office comprises Ryan Goers, vice president, finance, global financial planning and analysis; Juan Jose Joachin, vice president, finance operations; and Jessica L. Parrish, vice president, corporate controller and treasurer.
“At Domino’s, we have a talented and dedicated finance and accounting team — and I have great confidence that we will continue to execute on our financial objectives as we identify a new CFO,” says Allison. “We continue to focus on providing outstanding food and service to our customers worldwide, as evidenced by robust retail sales growth and another record-setting year of franchisee profitability. The Domino’s brand and value proposition is as strong as it has ever been and we remain confident in our long-term outlook.”
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Levy joined Domino's in 2019 as its executive vice president of supply chain after serving as executive vice president, chief transformation officer, for Republic Services, Inc. He was named CFO in August.
“On behalf of everyone at Domino’s, I would like to thank Stu for his contributions, including his leadership throughout the complex challenges of the pandemic,” Allison continues. “We maintained and built on our financial strength, invested in the capacity required to support the long-term growth of the brand, and delivered significant shareholder value, all while putting our team members and customers first.”
“Domino’s is in a great position to continue its impressive track record of global growth,” says Levy. “It’s been a privilege to work with the amazing team members and franchisees who make Domino’s such an iconic brand and I’m confident this will be a smooth transition.”
Levy’s departure did not result from any disagreement regarding the Company’s financial reporting or accounting policies, procedures, estimates, or judgments.