12th Nov 2019 10:39
(Correcting the stake owned by Browning West in Domino's Pizza.)
(Alliance News) - Domino's Pizza Group PLC on Tuesday said it appointed Usman Nabi as non-executive director from Monday.
Nabi is the founder, managing partner and chief investment officer of Browning West LP, a Los Angeles-based investment firm which owns 6.5% stake in the pizza chain.
The FTSE 250-listed pizza delivery chain said Nabi will work alongside Ian Bull, senior independent director, in seeking to recruit a new chair, a process that will be overseen by the Nomination Committee.
Domino's had previously said it is focused on attracting and recruiting a new chair and a new chief executive. In order to optimise this process, it has decided to prioritise the appointment of a new chair, which will be followed by the appointment of a new CEO.
The departures of both CEO David Wild and Chair Stephen Hemsley were announced at the beginning of August, but at the time the company said the pair will remain in their roles until successors are found.
Domino's Pizza shares were trading 3.2% higher in London on Tuesday at 277.70 pence each.
By Evelina Grecenko; [email protected]
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