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Domino’s Pizza Group PLC on Tuesday said Andrew Rennie has stepped down immediately as chief executive officer, and the company ruled out the acquisition of a second brand until a new boss is in place. Domino’s Pizza Group shares were down 3.0% at 165.84 pence early Tuesday in London. The FTSE 250 stock is down 51% over the past 12 months. The Milton Keynes, England-based company is the master franchise holder in the UK and Ireland for US-based pizza delivery firm Domino’s Pizza Inc. It said it has commenced a search process to identify a successor as CEO. Rennie will remain at the company until the end of December, and Chief Operations Officer Nicola Frampton will serve as interim CEO until a new permanent chief is found. The company noted that Frampton was managing director of UK Retail for gambling operator William Hill, part of Evoke PLC, before joining Domino’s Pizza Group. She also is a non-executive director of retailer Frasers Group PLC. Andy Andrea is set to join as chief financial officer on March 16, as announced back in September. Andrea is joining from C&C Group PLC, a Dublin-based beer, cider, wine, spirits and soft drinks maker and distributor. Domino’s Pizza Group on Tuesday said it plans to review ‘its capital allocation priorities’ after Andrea’s arrival. ‘The company does not envisage pursuing a second brand acquisition until the new CEO is in place,’ it said. In addition, a capital markets day scheduled for December 9 will be postponed. The company said there are no changes to its 2025 profit guidance. Back in November, Domino’s Pizza Group said it continued to expect underlying earnings before interest, tax, depreciation and amortisation in a range of £130 million to £140 million, down from £143.9 million in the 52 weeks to December 29, 2024. Commenting on the CEO change, Chair Ian Bull said: ‘The board believes that there are a number of opportunities to drive further growth and value creation in Domino’s core business. We are focused on identifying the right CEO to lead the disciplined execution of that growth strategy, alongside our incoming CFO and the wider leadership team, and underpinned by a rigorous focus on shareholder returns.’ Back in April, Rennie had told The Times in an interview that he was ‘looking closely at a deal for a second brand’. In August, with its interim results, Domino’s Pizza Group confirmed it continued ‘to explore second brand options’. Bloomberg in December last year had reported that Domino’s Pizza Group was among several bidders for Lemon Pepper Holdings, the master UK and Ireland franchisee for fried chicken chain Wingstop. A majority stake was bought instead by private equity firm Sixth Street. In September, Domino’s Pizza Group launched its own new chicken offer, Chick’N’Dip, in 187 stores across the north west of England and Northern Ireland. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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