The Domino's Pizza Enterprises Ltd (ASX: DMP) share price is falling hard today.
Shares in the S&P/ASX 200 Index (ASX: XJO) fast food pizza retailer closed yesterday trading for $20.14. In morning trade on Wednesday, shares are changing hands for $16.66 apiece, down 17.3%.
For some context, the ASX 200 is up 0.5% at this same time.
Today's underperformance follows news of a major leadership shakeup.
Here's what we know.
Image source: Getty Images
Domino's share price crashes on CEO exit
Investors are punishing the Domino's share price today after the company announced that its CEO and managing director, Mark van Dyck, will exit his role on 23 December.
Today marks Van Dyck's last day as a director, with Domino's saying he will continue to support the board and management until his departure to support a smooth and effective transition.
Domino's chairman, Jack Cowin, will today assume the role of executive chair on an interim basis, collaborating with Van Dyk and the executive team over the coming months.
The board said it has kicked off a global search for a new CEO to "lead the business through its next phase of growth".
Cowin is the largest shareholder and chairman of Domino's Pizza, and the chairman and managing director of the CFAL Group, which operates Hungry Jack's. The board noted that under his leadership, CFAL has grown to annual revenues exceeding $2.4 billion. He's also led Domino's expansion into Europe and Asia.
Cowin's extensive business experience, however, isn't keeping the Domino's share price from tanking on news of the CEO's exit today.
What did management say?
"It has been a privilege to lead Domino's through a transformative period," Van Dyck said, commenting on his unexpected departure that's pressuring the Domino's share price today.
"With a clear strategy and strong team in place, I believe the time will be right at the end of this calendar year to hand over to the next CEO," he added. "My focus in the months ahead will be on supporting a smooth transition."
Cowin added:
Mark has made a valuable contribution to Domino's during a period of significant operational reset. With the strategic foundations now firmly in place, this transition enables a new CEO to take Domino's to its next stage of growth. I look forward to supporting the executive team during this important phase.
Domino's said it remains committed to its current strategic direction, which includes strengthening its franchisee profitability and operational simplicity, along with delivering cost efficiencies and improved executions.
With today's big intraday fall factored in, the Domino's share price is down a painful 43.4% in 2025.
