DOMINO’S
DOMINO’S (DPZ)
Domino’s Pizza, Inc. (NYSE: DPZ) is an international pizza delivery corporation headquartered in Ann Arbor, Michigan, United States. Founded in 1960, Domino’s is the second-largest pizza chain in the United States.
Domino’s currently has nearly 9,000 corporate and franchised stores in 60 international markets and all 50 U.S. states. Domino’s Pizza was sold to Bain Capital in 1998 and went public in 2004. Domino’s menu features pizza, pasta, oven-baked sandwiches, wings, boneless chicken, salads, breadsticks, cheesesticks, and a variety of dessert items.
Domino’s management is led by J. Patrick Doyle, CEO from March 2010, formerly president of Domino’s USA. Previous chief executive David Brandon, made athletic director of the University of Michigan in January 2010, remains chairman. Among 11 executive vice presidents are Michael Lawton, CFO; Asi Sheikh, Team USA; Scott Hinshaw, Franchise Operations and Development; and Kenneth Rollin, General Counsel. Domino’s operations are overseen by a board of directors led by Brandon. Other members of the board are Andrew Balson, Diana Cantor, Mark Nunnelly, Robert Rosenberg and Bud Hamilton.
Starting in 1973, Domino’s Pizza had a guarantee that customers would receive their pizzas within 30 minutes of placing an order, or they would receive the pizzas free. The guarantee was reduced to $3 off in the mid 1980s. In 1992, the company settled a lawsuit brought by the family of an Indiana woman who had been killed by a Domino’s delivery driver, paying the family $2.8 million. In 1993, Domino’s settled another lawsuit, this one brought by a woman who was injured when a Domino’s delivery driver ran a red light and collided with her vehicle. The woman was paid nearly $80 million. The guarantee was dropped that same year because of the “public perception of reckless driving and irresponsibility”, according to Monaghan. In December 2007, Domino’s introduced a new slogan, “You Got 30 Minutes”, alluding to the earlier pledge but stopping short of promising delivery in a half hour.