-Whitbread, the proprietor of UK lodge chain Premier Inn, on Wednesday named Dominic Paul, the boss of the British franchisee for U.S.-based Domino’s Pizza, as its new chief govt.
51-year-old Paul, leaves London-listed Domino’s Pizza Group at a time when the UK agency is firefighting sky excessive inflation after hedging itself in opposition to wheat costs which have soared as a result of Ukraine battle, whereas Whitbread navigates rising prices and labour shortages.
Paul returns for a second stint at Whitbread in early January – he beforehand served as CEO at Whitbread’s espresso chain Costa Espresso forward of its sale to Coca-Cola in 2019 – succeeding Alison Brittain, who will retire on the finish of the agency’s 2023 fiscal yr.
“Dominic is the an apparent selection as he's a veteran on this business,” stated Richard Clarke, analyst at Bernstein.
“What's fascinating is that Dominic come from Domino’s, which operates as a franchise mannequin, and we all know Whitbread has not been profitable as a franchisee besides within the Center East,” added Clarke.
Below Paul’s tenure, shares of Domino’s have fallen about 15%, whereas Whitbread shares have misplaced greater than 37% since Brittain took over as chief in September 2015.
Domino’s stated its board was beginning a course of to establish Paul’s successor and shares of the corporate slipped 6% after Wednesday’s announcement.
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