Shares in Domino’s Pizza drop on chief executive resigning

<p>The resignation of Domino’s Pizza’s chief executive has hit its stocks.</p>

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.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.