(Reuters) -Britain’s Domino’s Pizza said on Tuesday that CEO Andrew Rennie has stepped down, marking another senior departure as the company shifts strategy to tackle weak sales and rising costs.
The chain, which operates under the umbrella of U.S.-based Domino’s Pizza in the UK and Ireland, is expanding beyond pizzas to boost growth, with a new fried chicken sub-brand, Chick ‘N’ Dip, and introducing healthier pizza options.
The group said Chief Operations Officer Nicola Frampton will hold Rennie’s position on an interim basis.
Shares of the company fell 2.3% to 167.1 pence by 0846 GMT.
During his more than two-year tenure at Domino’s UK, Rennie prioritised repairing strained franchisee relationships, strengthening the supply chain and driving a digital transformation.
These efforts helped the pizza chain secure market share in online delivery and improve customer loyalty.
Despite these gains, the stock has dropped about 47% this year, reflecting weak consumer demand. Earlier this month, the company warned that sluggish orders could persist into 2026.
“Andrew Rennie’s tenure as CEO should be heralded as a success as one should recall the dysfunction that plagued the company prior to him joining,” Panmure Liberum analysts said.
Domino’s UK, which appointed a new finance chief in September, joins a growing list of global retail companies reshuffling leadership to navigate an uncertain economy and volatile consumer spending.
The company said it will review its capital allocation after incoming CFO Andrew Andrea joins and has postponed its December capital markets day, with no second-brand acquisition planned until a new CEO is appointed.
(Reporting by Yamini Kalia and Pushkala Aripaka in Bengaluru; Editing by Rashmi Aich and Louise Heavens)
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