Updated

Billionaire Cowin doubles down on Domino’s after CEO agrees to exit

Simon Evans and Carrie LaFrenz

Updated Nov 5, 2024 – 6.41pm, first published at 10.24am

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Billionaire Domino’s Pizza Enterprises chairman Jack Cowin says he will top up his shareholding after the struggling fast food chain parted with long-time chief executive Don Meij following years of profit downgrades.

Mr Meij, who started as a delivery driver and held the top job for 22 years, said he had “so much fondness in my heart for this business” but it was time for him to leave. He will step down on Wednesday at the company’s annual meeting after failing to turn around the pizza franchise’s operations in France and Japan, where it has struggled since the COVID-19 pandemic.

Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide.

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.