Domino’s will be looking for fresh ingredients to feed its overseas expansion after the departure of the man who went from delivery driver to boss and took the Brisbane firm global.
The pizza chain on Tuesday announced the resignation of chief executive Don Meij after almost 40 years at the company, including 22 at the helm.
Succeeding Mr Meij will be Mark van Dyck, the former Asia-Pacific regional managing director of food-service multinational Compass Group.
Mr Meij said the decision wasn’t easy but was made at the right time for the company.
“Domino’s really has been my life,” he said.
“When I started as a delivery driver in Redcliffe, Queensland, I never imagined I’d become CEO of a truly global company with more than $4 billion in sales.
“I leave knowing that the business is well-positioned for an exciting new chapter.”
Analysts say the challenge for Mr van Dyck is clear: turn the firm’s overseas markets around and boost profits at the pizza chain.
Domino’s has faced challenges in several countries, most notably when inflation hit its international operations after the COVID-19 pandemic.
The pizza giant’s shares have nearly halved in value since the start of the year, dropping more than seven per cent on Tuesday to $31.17 before the afternoon close.
Mr Meij’s retirement comes alongside a trading update for the first 17 weeks of the 2025 financial year, reporting group same-store sales were down 1.2 per cent compared with the previous corresponding period’s 2.7 per cent growth.
Sales in Germany were down after a record in the previous year, while sales in France and Japan also declined.
RBC Capital Markets analyst Michael Toner said the change of leadership provided an opportunity to reset.
“Mark’s experience in restructuring and growing a Japanese business should provide a solid foundation to arrest the challenges (the company) is experiencing in Japan,” he said.
“We believe a turnaround in Japan and France (sales growth) and franchise profitability is a core prerequisite for (Domino’s) to execute on its longer-term growth strategy.”
Other analysts, including E&P’s Phillip Kimber, said the company’s recent performance was disappointing and there were risks with the change in leadership.
Mr Meij was a significant figure for franchisees, who Domino’s relied on to sell its pizzas, Mr Kimber said.
“Whilst the incoming CEO has strong credentials … managing the relationship with franchisees and improving their profitability will be his key challenge,” he said.
Domino’s chair Jack Cowin thanked the outgoing chief executive, who will spend the coming year working with the board and Mr van Dyck.
“Under his leadership (we) grew from a Brisbane-based company to a truly global business,” he said.
“(Don) leaves an impressive legacy.”
Domino’s had 387 stores and $300 million in sales when it listed on the ASX in 2005. It now has 3700 stores and about $4 billion in sales.
Mr van Dyck will be paid a salary of $1.58 million for the role, including super and entitlements, subject to an annual review.
