Shocker with the lot: Domino’s 30pc plunge puts pressure on Don Meij
The fourth profit downgrade in three years from Domino’s boss Don Meij has raised questions about the credibility of management with at least one veteran analyst.
Don Meij has been the chief executive of Domino’s Pizza Enterprises for more than 21 years, and the corporate face of the business since it listed on the ASX in 2005. But after delivering the fourth profit downgrade in three calendar years, he’s facing what might be the toughest challenge of his long career: rebuilding confidence in management and winning back the trust of the market.
Domino’s shares plunged almost 30 per cent on opening on Thursday after the company released an ugly trading update three hours after the market closed on Wednesday night.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
