Domino’s Pizza (ASXMP) has seen shares fall -16% in early trades as the company’s Group CEO, Mark van Dyck, jumps ship out of the blue.
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It’s just another blow for one of Australia’s most popular stocks, which has seen 1Y returns fall -42% YoY a/a 10.20am AEST. Since January, it’s shaved off around -32%.
This comes after trouble in Europe, trouble in Japan, and on the whole, what appears to be a general decline of popularity for Domino’s products.
Add inflationary costs over the last few years and the cost of living crisis, and you’ve got a handful of datapoints suggesting the lipstick effect mightn’t extend to value range pepperonis.
A strategic review in February failed to truly restore the price back to former heights, and this CEO’s exit follows Don Meij’s exit in November last year, then, just in May, the company’s NZ chief exited the business.
It looks like the captains are jumping ship on the stock.
At one point in July last year, the stock was the biggest faller when it announced difficulty in Asian markets. And don’t forget shares were worth $160/sh in Q3 of 2021, a predictable lockdown play. At the time.
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MP) has seen shares fall -16% in early trades as the company’s Group CEO, Mark van Dyck, jumps ship out of the blue.
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