Domino's names Joe Jordan as new CEO, replacing Russell Weiner

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Summary · why it matters

Domino's Pizza announced that CEO Russell Weiner will retire on October 1 and be succeeded by chief operating officer and US president Joe Jordan. Weiner, who has been with the company since 2008 and served as CEO since May 2022, will become executive chairman, while current executive chairman David Brandon plans to retire in 2027. The leadership change comes as Domino's stock has fallen nearly 30% year to date, with first-quarter US same-store sales growth of 0.9% missing the 2.6% expected by Wall Street and international same-store sales declining 0.4% against expectations of a 0.7% increase. The pizza market has grown increasingly competitive, with rivals like Papa John's, delivery services such as DoorDash and Uber Eats, and convenience stores like Casey's all expanding their offerings, while Yum! Brands recently announced plans to sell Pizza Hut's US operations to private equity firm LongRange Capital.

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