The board of Domino’s Pizza group has announced that chairman Stephen Hemsley will step down from the board with effect from 29 December 2019.
Senior independent director, Ian Bull, will act as interim chairman until a permanent replacement is announced.
Hemsley joined Domino’s in 1998. Since his appointment, the company has moved from a market capitalisation of £25m to almost £1.5 bn, as well as increasing from some 100 UK stores to over 1,250 stores across the UK, Ireland, and other International Markets.
He joined the board as finance director in 1998, was appointed as chief executive in 2001, executive chairman in 2008 and became non-executive chairman in March 2010.
The board said it would “like to place on record its appreciation of Stephen’s exceptional contribution to the development of Domino’s”.
Hemsley said: “It has been a privilege to play a part in the growth of Domino’s to the brand it has become today, working alongside our talented colleagues and franchisees.
“After 21 years in the business, now is the right time for me to step back and focus on other interests.”
He added: “Domino’s is well-positioned for future growth, and I wish it every success in the future.”
The company will now begin the search for a new chairman, which will also be followed by the appointment of a new CEO.