Shares in Domino 8217 s Pizza drop on chief executive resigning

The resignation of Domino’s Pizza’s chief executive has hit its stocks.


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By :  ,  Financial Analyst

Shares in Domino's Pizza fell during trading this morning (December 6th) after the chief executive of the firm stated that he would be leaving the company next year.

Lance Batchelor is moving on to take up a role at a non-competing firm, it was revealed by Domino's chairman Stephen Hemsley in a statement.

Domino's added it has already started the search for a new chief executive, with Mr Batchelor having confirmed he will be moving on in April next year.

Although stocks in the pizza delivery company initially fell by as much as nine per cent in the morning session, they later stabilised.

At 13:34 GMT, the share price of Domino's Pizza was still more than four per cent down for the day. Stocks were trading at around 505.00 after dropping to a new 52-week low earlier.

Mr Batchelor increased the digital focus of Domino's Pizza, with mobile orders increasing in popularity as customers increasingly order their pizzas via smartphones or tablet computers.

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