Staffing

Domino's seeks replacement for resigning CFO

Photo: iStock.

May 20, 2021

Domino's Executive Vice President and CFO Stuart Levy has left his position at the Ann Arbor, Michigan-based company, but will continue in an advisory role until Aug. 31, a news release said.

The brand has begun a search for a new financial chief, with help from executive search firm, Heidrick & Struggles. In the meantime, CEO Ritch Allison, Domino's chief executive officer is overseeing the newly-established Office of the CFO comprised of Vice President, Finance, Global Financial Planning and Analysis Ryan Goers, along with Vice President, Finance Operations, Juan Jose Joachin and Vice President, Corporate Controller and Treasurer, Jessica L. Parrish. The team will continue to operate until a new CFO is in place.

"At Domino's, we have a talented and dedicated finance and accounting team — and I have great confidence that we will continue to execute on our financial objectives as we identify a new CFO. …" Allison said in the release.

"On behalf of everyone at Domino's, I would like to thank Stu for his contributions, including his leadership throughout the complex challenges of the pandemic. We maintained and built on our financial strength, invested in the capacity required to support the long-term growth of the brand, and delivered significant shareholder value, all while putting our team members and customers first."

Levy believes the company is well-situated for a continued path of growth worldwide.

"It's been a privilege to work with the amazing team members and franchisees who make Domino's such an iconic brand and I'm confident this will be a smooth transition," he said in the release.

The press release accompanying the announcement underscored that "Levy's departure did not result from any disagreement regarding the company's financial reporting or accounting policies, procedures, estimates or judgments."

Domino's has more than 17,800 stores in over 90 markets with global retail sales of over $16.1 billion in 2020, with nearly $8.3 billion in the U.S. and over $7.8 billion internationally.