ANN ARBOR, Mich. — Domino's Pizza announced that chief financial officer and executive vice president Harry J. Silverman will transition out of the company over the next two years.
According to a news release, Silverman will assist Chairman and CEO David A. Brandon in conducting an internal assessment and external search for his replacement.
Silverman, 46, has been with Domino's for 19 years, and has chosen to move on to the next phase of his career, as well as spend more time with his family.
"I have been so fortunate in my life and in my career, and Domino's Pizza has been a key part of both," Silverman said. "I could not have accomplished the things that I did without a great team to back me up, and great franchisees to get it done in the marketplace."
Silverman said he will continue to be a significant shareholder in the company, which went public in July. According to a regulatory filing, in 2003 he earned salary and bonus of $2.2 million, making his compensation second only to Brandon's.
He will stay on in his current role for one year during the appointment and orientation of his successor. After that he will serve for one year as a special consultant and project manager, reporting to Brandon.
"I have had the privilege of working with Harry for nearly six years, and have witnessed his steadfast commitment to Domino's Pizza," Brandon said in the release. "Our franchisees and team members are sorry to see him begin his transition out of the role of CFO. ... We all wish Harry and his family the very best. But, we're not ready to say goodbye."
Silverman joined the company in 1985 as a regional controller based in Chicago. He has held the position of CFO since 1993, and recently played an important role in the execution of both the 2003 recapitalization and the 2004 IPO of Domino's Pizza, the largest IPO in restaurant history. He is married and has three sons.