Domino’s Australia Shares Sink as CEO Plans Exit After One Year

Shares of Domino’s Pizza Enterprises Ltd. tumbled to their lowest since 2014 after the company said Group Chief Executive Officer and Managing Director Mark van Dyck will step down after just one year in the role.

The stock fell 16% in Sydney on Wednesday after the Brisbane, Australia-based company said Van Dyck will leave in December. Billionaire fast food magnate Jack Cowin has been appointed interim executive chairman effective immediately, according to an exchange statement.