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

IPO Alert: Here’s what to look for when CaliberCos goes public

The massive slowdown in the IPO market continued in the second half as the challenges posed by high inflation and interest rate hikes weighed on investor confidence. Meanwhile, there is

CarMax (KMX) Stock: Does the current dip offer a buying opportunity?

The automotive sector is one of the worst affected by the combination of high inflation and rising interest rates. Consumers have become more cautious and are prioritizing their purchases with

Ultimax Digital gears up for $10mln IPO. Here’s all you need to know

The IPO market has witnessed muted activity this year, and things don’t seem to have improved in the second half. The upcoming public listing of video game technology firm Ultimax

Tags

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