Categories LATEST, Retail

David Hoffmann to head Dunkin’ Brands; Nigel Travis retires as CEO

Dunkin’ Brands Group (DNKN), the parent of two fast-food restaurant companies Dunkin’ Donuts (DD) and Baskin-Robbins (BR) named Dave Hoffmann as its new CEO with immediate effect. The outgoing CEO Nigel Travis is retiring from the company and has been appointed Executive Chairman of the Board of Directors.

Hoffman joined Dunkin’ in late 2016 as President of Dunkin’ Donuts. Before joining the doughnut and coffee chain, he was working in McDonald’s (MCD) as President, High Growth Markets. When he left McDonald’s, it was reported that he lost above $20 million of his compensation since he didn’t sign the non-compete agreement.

Dunkin Brands appoints Dave Hoffmann as CEO
David Hoffmann, CEO   Image Courtesy: Dunkin’ Brands

Nigel Travis, who has been working as the CEO of Dunkin’ for almost a decade, will be retiring as the CEO and will remain active with the company as Executive Chairman. The company went public in 2011 under his leadership and has given back about $2.7 billion to shareholders since that time. In his new role, Travis will look after the development of the holding restaurant company’s international businesses.

The Canton, Massachusetts-based company is planning to conduct a conference call today at 4:30 PM ET to discuss the management change. Shares of Dunkin’, which inched up 0.6% on Tuesday, slipped about 1% before the bell today after the announcement. However, the stock turned to green when the market opened today.

 

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top