Domino's has been crushing its rival Little Caesars since Patrick Doyle took over as CEO in 2010. His goals were to bake #1 pizzas, improve the dining experience, and build a good leadership team. He scored the hat trick, and shares of Domino's fell 4% yesterday on news Doyle's retiring in June.
- On his first day, Doyle acknowledged Domino's was horrible. He changed the sauce and crust. He ordered franchises to redesign the kitchen so customers could see inside. He put live webcams in kitchens so you could watch your pizza being made realtime. He rolled out a feature to order a pizza by tweeting an emoji. Finally, he partnered with the local car company, Ford, for self-driving delivery cars.
The takeaway: Domino's stock rose more than 1,000% with Doyle at the helm. "The tech company that also sells pizza" became Wall Street's darling thanks to Doyle's bold moves. It's the #1 restaurant chain in India, for crying out loud. His successor, Richard Allison, has a cool logo, top digital infrastructure, and 13,811 restaurants globally. Dig in and don't disappoint, Mr. Allison. @Doyle, Chipotle is hiring...
Sign up for the daily MarketSnacks financial newsletter here.