Domino’s appoints permanent finance chief as boardroom shake-up goes on
Neil Smith has been made the permanent finance chief of takeaway chain Domino’s as the pizza house bolstered its board with a number of new appointments.
Smith, who has served as the interim chief financial officer since joining in April, replaces David Bauernfeind, who died in a snorkelling accident last year.
Prior to joining the company, he was finance chief at pub operator Ei Group until its takeover by Stonegate. He took on the role yesterday and will join the Domino’s board from 16 September.
Joining him will be Natalia Barsegiyan, a former finance chief of Mexico chain Taco Bell, and Lynn Fordham, managing partner of private equity firm Larchpoint Capital.
Both will join the board and also become members of the nomination, remuneration and audit committees.
Domino’s has been one of the rare success stories of the last six months, with takeaways spiking in popularity for housebound Brits during the coronavirus lockdown.
The chain’s share price has picked up 43 per cent since mid-March, when the restrictions first came into effect.
Last month the company reinstated its dividend, hailing a “resilient” performance over the lockdown period.
Like for like sales in the UK increased by 4.8 per cent over the period, the firm said.
Today’s appointments mark the next stage in a wholesale management shakeup which saw former Costa Coffee boss Dominic Paul named chief executive and Matt Sharrock of whisky maker Jim Beam named chairman a few months ago.
Top of the list for the new management team is the sale of Domino’s loss-making international operations, as well as sorting out a long-running row with its franchisees.