Domino's Australia franchise's long-serving CEO steps down, shares drop [Yahoo! Finance Canada]
COMPASS GROUP SP/ADR (CMPGY)
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Source: Yahoo! Finance Canada
longstanding CEO was stepping down after more than two decades at the helm during which the franchise grew into a multi-billion dollar business. Shares of the Australia-listed company were volatile in early hours, oscillating between a drop of 6% and a near rise of 4%. They were down around 6% at A$31.67 ($20.84) as of 0021 GMT. A weak trading update also weighed on the shares. Group same -store sales fell 1.2% in the first 17 weeks of fiscal 2025, with sales in Germany, Japan, and France also declining. Don Meij, who started as a delivery person at a Redcliffe, Queensland pizzeria that later acquired the Domino's brand in Australia, was named the firm's chief executive in 2002. He led the pizza franchise operator through its initial public offering in 2005, becoming Australia's first publicly listed pizza chain, and expanded its stores to 12 countries across Asia, Australia-New Zealand, and Europe. However, the firm had been struggling to maintain sales in a post-COVID era
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