Domino's Pizza CEO Lance Batchelor quits, heads to private equity-backed firm

December 6
7:30 AM 2013

Britain's Domino's Pizza on Friday said that its chief executive Lance Batchelor would be stepping down next year. Batchelor's exit is the second managerial blow to Britain's biggest pizza delivery firm this year. 

According to a report by the Irish Independent, Batchelor will join the group's chief financial officer Lee Ginsberg in leaving the firm. Ginsberg announced his departure in July this year. 

Batchelor has been offered a new role in a significant private equity backed company and as a result has tendered his resignation, Domino's chairman Stephen Hemsley said in a statement. Batchelor's new company operates in a non-competing sector.

Batchelor decision to quit as tje pizza delivery firm came as shares in Domino's were down 8.7% in early trading. Domino's shares were trading at GBP482 on Friday morning, valuing the business at just below GBP800 million, the report said. 

Domino's said Batchelor would be staying with the firm until April 30, 2014. The group has opened the search for a new CEO, Irish Independent said.

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