New CEO Named at Dunkin' Brands
Dunkin' Brands announces new chief executive officer in succession planning move; Nigel Travis appointed CEO, Jon Luther remains executive chairman of the board.
-- Chain Leader, 12/10/2008 8:44:00 AM
PRESS RELEASE: Canton, Mass (December 10, 2008) - Dunkin' Brands, the parent company of Dunkin' Donuts and Baskin-Robbins, today announced that Nigel Travis has been appointed Chief Executive Officer. Most recently, Travis, 58, was the President & CEO of Papa John's (NASDAQ: PZZA), a pizza chain with annual system-wide sales of $2.1 billion and more than 3,300 restaurants throughout the U.S. and 29 international markets. Effective January 6, 2009, he will assume the role from Jon Luther, who will remain Executive Chairman of the Board. Luther, 65, joined Dunkin' Brands in January 2003 as Chief Executive Officer and added the role of Chairman in 2006.
Luther had been working closely with Dunkin' Brands' Board of Directors since early 2008 to develop a succession plan and identify a new Chief Executive Officer.
Travis joined Papa John's in 2005 as President & Chief Executive Officer. Under his leadership, Papa John's accomplished outstanding results, with industry-leading comp sales, consistent earnings growth and excellent franchise relationships. During his four-year tenure with the company, Papa John's online sales tripled through the innovative use of technology. In addition, Travis helped position the company's international business as a major growth platform and oversaw the successful rollout of several new products, including Papa's Pan Pizza.
Prior to Papa John's, Travis was with Blockbuster, Inc. from 1994 to 2004, where he served in increasing roles of responsibility, including President & Chief Operating Officer. During that time, global sales increased over 50% and the international business was developed to encompass 26 countries with revenues of $1.8 billion. Travis also built a worldwide franchise network of 300 franchisees in 15 countries with revenues of approximately $1 billion, and transitioned the company from a video rental store chain to a complete movie and game source.
Before that, he was with Burger King, first as Senior Vice President of Human Resources and later as Managing Director for Europe, the Middle East and Africa. As Managing Director, he turned around the region, significantly increasing sales and operating profits. He dramatically increased the rate of store development in the region, and successfully drove expansion into new countries and alternative points of distribution.
Mr. Luther commented, "In Nigel, Dunkin' Brands has found a leader with a proven track record of delivering extraordinary results. His wide-ranging achievements in retail and the foodservice industry will strengthen our overall senior leadership team, further enhancing our ability to execute our long-range strategic plans. Nigel's ability to develop strong franchisee networks, his understanding of the intensely competitive global marketplace, and his innovative, results-oriented style will build on the powerful momentum already in place at our Dunkin' Donuts and Baskin-Robbins brands."
Luther will remain with Dunkin' Brands in a full-time capacity as Executive Chairman of the Board, and will work closely with Travis to ensure a smooth transition for the company.
Said Mr. Travis, "I am delighted to have the opportunity to join Dunkin' Brands and build on the remarkable transformation that has taken place under Jon's leadership. I am looking forward to working with Jon, the executive team, and all of the employees and franchisees who have helped to reinvigorate two of the world's most powerful, recognized and beloved brands."
Travis will relocate to Massachusetts with his family.
About Dunkin' Brands, Inc.
With more than 14,000 franchises in 44 countries worldwide, Dunkin' Brands, Inc. is renowned for its leadership in the quick quality category. At the end of 2007, there were 7,988 Dunkin' Donuts franchised restaurants and 5,874 Baskin-Robbins franchised restaurants and the company had system-wide sales of approximately $6.6 billion. Dunkin' Brands, Inc. is headquartered in Canton, Massachusetts. For more information, visit www.dunkinbrands.com.
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