March 10, 2020 / 10:47 AM / a month ago

Domino's Pizza names Beam Suntory executive Shattock as chairman

FILE PHOTO: A worker carries a pizza for delivery as he exits a Domino's pizza store in Sydney, Australia, August 12, 2015. REUTERS/David Gray/File Photo/File Photo

(Reuters) - Britain’s biggest pizza delivery company Domino’s Pizza Group (DOM.L) on Tuesday appointed Beam Suntory executive Matt Shattock as its chairman, replacing Ian Bull who has held the role on an interim basis since last year.

Shattock, who was a tank troop leader in the British army before entering the industry, previously held senior roles at Cadbury and Unilever (ULVR.L).

He will join Domino’s from Jim Beam maker Beam Suntory, a unit of Japan’s Suntory Holdings, where he has served as the non-executive chairman since April.

Shattock joined Beam Inc in 2009 as president and chief executive officer and oversaw the integration of the company and Suntory’s spirits businesses after the Japanese firm’s $16 billion acquisition of Beam.

“Shattock has the necessary credentials for the role,” Jefferies analysts said in a client note.

Shares in the company were up 5.3% at 299 pence by 0931 GMT.

Domino’s said last year its long-serving Chairman Stephen Hemsley will step down from the board in the wake of the Financial Reporting Council’s revised corporate code that emphasised the need for boards to refresh themselves.

The British company, a franchise of U.S.-based Domino’s Pizza Inc (DPZ.N), is also looking to replace its Chief Executive Officer David Wild and appoint a chief financial officer after David Bauernfeind died in a snorkelling accident last year.

Reporting by Tanishaa Nadkar in Bengaluru; Editing by Aditya Soni

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