Former McDonald's International Executive to Lead Dunkin' Brands -- Update

By Austen Hufford 

The owner of Dunkin' Donuts and Baskin-Robbins said Chief Executive Nigel Travis has left his position, ending a more than nine-year tenure where he brought the company public and extended the domestic and international reach of its brands.

Dunkin' Brands Group Inc. on Wednesday named David Hoffmann as its new CEO, with Mr. Travis transitioning to the role of executive chairman. Mr. Travis said Mr. Hoffman was hired from McDonald's Corp. with the intent of him becoming the company's next leader.

Mr. Travis, 68, had been CEO since January 2009. Dunkin' said its new executive chairman will focus on the continued development of the company's international businesses. During Mr. Travis's tenure as CEO, the company entered 25 international markets and added almost 6,000 restaurants globally. Dunkin' also launched its consumer packaged-goods line. The company said in its most recent annual report that it is the highest-selling national brand of K-Cups, the single-serving coffee pods used in Keurig machines.

Mr. Hoffmann, 50, joined the company in October 2016 as president of Dunkin' Donuts U.S. He was also in charge of global franchising and store development for both the ice cream and coffee brands.

Before joining the company, Mr. Hoffmann spent 22 years with McDonald's, where he most recently was in charge of high-growth markets, an area that included China, South Korea, Russia and several European countries.

In July 2011, Dunkin' priced its initial public offering at $19 a share. Shares were recently trading at $70.48, down 0.7%, and have risen 30% over the last 12 months. Before joining Dunkin', Mr. Travis was CEO of pizza chain Papa John's International Inc. and, before that, chief operating officer of movie-rental company Blockbuster Inc.

(END) Dow Jones Newswires

July 11, 2018 10:37 ET (14:37 GMT)

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