Domino's Pizza Group PLC Chairman Appointment (5141F)

TIDMDOM

RNS Number : 5141F

Domino's Pizza Group PLC

10 March 2020

LEI: 213800Q6ZKHAOV48JL75

10 March 2020

Domino's Pizza Group plc

Chairman Appointment

Domino's Pizza Group (Domino's) today announces the appointment of Matt Shattock as a Director and Chairman with effect from 16 March 2020. Mr Shattock will also be a member of the Remuneration Committee and Chairman of the Nomination Committee.

Matt is a highly experienced executive who has operated at the highest level in the consumer sector for many years. He is currently non-executive Chairman of Beam Suntory Inc., a role he has held since April 2019. He first joined Beam Inc. in 2009 as President and CEO, leading its successful growth strategy and overseeing the integration of the Beam and Suntory spirits businesses as CEO of the combined group following Beam's $16bn acquisition by Suntory Holdings Limited.

Prior to joining Beam, Matt held senior roles at Cadbury plc and Unilever. In addition to his role at Beam Suntory, he also serves on the boards of The Clorox Company and VF Corporation. Matt studied at Durham University and was a tank troop leader in the British army before entering business.

Matt's appointment is a crucial step in the evolution of Domino's Board, following a number of significant appointments in 2019. These included Ian Bull as Senior Independent Director, as well as former Tim Hortons CEO Elias Diaz Sese and Browning West LP founder and Managing Partner Usman Nabi who were appointed Non-Executive Directors. All three have been involved in what has been an extensive global search to identify a world class Chair capable of leading the business to achieve its full potential.

As previously announced, the Chairman's appointment will be followed by that of a new CEO to replace David Wild, and a new CFO, following the tragic death of David Bauernfeind in December 2019. Matt will lead the processes to identify both these individuals, working with the Nomination Committee of the Board.

At last week's preliminary results, Domino's set out four clear priorities to unlock the potential of the business. Those four priorities are

   --     Recruit a Chair, CEO and CFO and oversee a managed board succession 

-- Reinforcing our UK and Ireland core business with ambitious plans to be the best master franchisor in the system

   --     Rebuild relationships with our franchisee partners 
   --     Find the right owners for the brand in our International territories 

Today's announcement is an important milestone for the business both in terms of these priorities, and to unlock the significant future growth opportunity for Domino's.

Ian Bull, Interim Chairman, said: 'This is an important moment in the turnaround of Domino's, and I am delighted to have secured a Chairman of Matt's calibre. During what has been an extremely rigorous search process led by Usman and I, we have been clear that we need world class leaders to take Domino's to the next level and fulfil its enormous potential. In Matt we believe we have found a Chairman who absolutely fits this description. He has extensive and highly relevant experience in the consumer sector, including B2B and B2C relationships, which will be crucial as Domino's seeks to rebuild relationships with its franchisees and return to profitable growth.'

Matt Shattock said: 'I couldn't be more excited to be joining Domino's as Chairman. This is a good business today but with its powerful brand and some of the best franchisees in the world, it has the potential to be an outstanding business. My priorities will be building the new executive leadership, while also getting out to know the business, meeting colleagues and engaging with our franchisees to build a constructive relationship. I firmly believe that by working together we can build an exciting and profitable future for our people, our franchisees and our shareholders.'

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulations (EU) No. 596/2014 ("MAR") and is disclosed in accordance with Domino's obligations under Article 17 of MAR.

The person responsible for making this notification is Adrian Bushnell, Company Secretary

For further information, please contact:

For Domino's Pizza Group plc:

Bethany Barnes

Head of Investor Relations: 07387 015695

Brunswick:

Tim Danaher

Samantha Chiene

020 7404 5959

About Domino's Pizza Group

Domino's Pizza Group plc is the UK's leading pizza brand and a major player in the Irish market. We hold the master franchise agreement to own, operate and franchise Domino's stores in the UK, the Republic of Ireland, Switzerland and Liechtenstein. In addition, we have a controlling stake in the holders of the Domino's master franchise agreements in Iceland, Norway and Sweden, as well as associate investments in Germany and Luxembourg.

Disclosure in accordance with Listing Rule 9.6.13(6)R

From 2005 to April 2008 Mr Shattock was a Cadbury plc appointee on the board of Cadbury Nigeria plc, a company in which Cadbury plc had a minority interest until February 2006 when it acquired a majority holding. Following its acquisition of a majority holding, Cadbury plc investigated accounting irregularities at Cadbury Nigeria plc during the period 2002 to 2005, a period in which Cadbury plc had a minority interest. Based upon these findings, which were shared with the Nigerian SEC, the board of Cadbury Nigeria plc removed the CEO & CFO from the business.

In April 2008 the Nigerian SEC took a unilateral decision to suspend all of the individuals who had been directors of Cadbury Nigeria at the time of the alleged irregularities from operating in Nigerian capital market, financial services and Nigerian public company directorships. The restrictions, which included lifetime bans and five-year suspensions for some directors, applied to Mr Shattock for only one year. Cadbury plc noted at the time that the Nigerian SEC had proceeded to reach decisions without hearing or taking the defence/clarifications of Cadbury Nigeria, or its directors and officers, in the proceedings.

No further information is required to be disclosed pursuant to Listing Rule 9.6.13R in respect of Mr Shattock's appointment

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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March 10, 2020 03:00 ET (07:00 GMT)