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Upper crust: Meij puts a team in place to double the size of Domino's

Business

Domino’s has vowed to more than double the size of its business in a decade and has restructured its management to achieve the growth.

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The goal does not seem unreasonable considering its share price is up 96 per cent for the past year and it has been one of the significant winners of the new business world created by COVID-19.

It posted revenue last financial year of $2.2 billion. It also opened 285 stories in 2021 and plans to increase openings by between 9 and 12 per cent over the next few years.

By 2033 it forecasts it will double in size to 6650 stores.

Domino’s managing director Don Meij said the management structure would split the world into two: Europe and Asia Pacific.

“As we accelerate to 2030 and beyond, we will grow much larger businesses in both regions each planned to be bigger than the entire Domino’s of today.

The Asia Pacific division will be led by current Japan chief executive Josh Kilimnik and Europe will be headed by Andre ten Wolde. The chief executive of the Australian business, Nick Knight, will step down and “retire from the Domino’s business” and will be replaced by David Burness who started as a Silvio’s delivery driver while studying at university.

“What has supported our growth to this point has been the ability of each region to understand their local markets while also ensuring we maximise benefits from our size, scale and collaboration with our international colleagues,” Meij said.

“A twin region approach will see a continued focus on global strategies and systems such as out One Digital platform which has already grown online ordering by 78.2 per cent.

“At the same time, we will strengthen our localised approach to marketing and store roll-out, applying regional level expertise to areas such as marketing and store development.”

Other appointments included Martin Steenks as chief executive of Taiwan.

 

 

 

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