J. Patrick Doyle, Domino's Pizza president and CEO, has been recognized by CNBC as the "Berbie Winner" for best CEO of 2011.
Under Doyle's leadership, the company's total debt has been reduced by $200 million since the end of 2007. Additionally, stock prices year-to-date are up 110 percent. Much of this year's success is attributable to the chain's risky "turnaround" ad campaign complementing its new pizza recipe.
In an interview with a CNBC panel, Doyle said he was honored to receive the recognition but handed off the credit to others.
"It's not about me. If you really think about what drove this (turnaround) it started from innovation from the marketing department and ad agency," he said. "The most important thing was our franchisees and store managers executing. If they aren't executing, I'm on the other (worst CEOs) list."
When asked what 2012 holds in store for the company, Doyle said Domino's will continue to listen to its customers and drive innovation in both product launches and technology.
Doyle touched upon the volatile commodities environment and predicted that margins will be easier in 2012.
"The commodities picture is looking better than it was. Cheese is a third to 40 percent of food cost for us and cheese is down pretty nicely right now. That's going to help that franchisee profit picture," he said.
Doyle also recently made it onto Zeta Interactive's "most buzzed about" list as one of the most talked about CEOs of the year.
See the entire interview here.
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