By Heather Haddon
Domino's Pizza said its operations chief Joe Jordan will take over as chief executive of the world's biggest pizza company, which is striving to reinvigorate sales.
Jordan, 53 years old, is set to take over Oct. 1. The Michigan-based chain's current CEO, Russell Weiner, is slated to transition into the executive chairman role.
Jordan said in an interview that he intended to closely focus on Domino's operations as the pizza sector slogs through years of anemic growth. Sales increases in the pizza sector have trailed the broader restaurant industry since 2017, not including the pandemic-boosted year of 2020, and pricing battles have cut into profit margins.
"The one word you will consistently hear from me is consistency," said Jordan, who also serves as Domino's U.S. president. He joined the company as vice president of innovation in 2011, after working at PepsiCo.
Domino's shares declined around 2% in aftermarket trading, and the stock is down about 30% year-to-date through Monday's close. Berkshire Hathaway, which had built up a position in the stock starting in 2023, completely sold out in May.
Domino's has said it has gained market share in the U.S., but in late April the company reported quarterly sales and earnings that trailed analysts' expectations, and toned down projections for this year's U.S. same-store sales.
Some of Domino's biggest competitors have struggled. Yum Brands last week said it would sell its Pizza Hut brand to a private-equity firm for $2.7 billion. Papa John's and the parent company of Papa Murphy's have also considered sales or other strategic options.
Serving as Domino's CEO since 2022, Weiner has pushed aggressive deals and started allowing ordering through third-party apps in the U.S. for the first time. His five-year strategy announced in 2023 pledged to expand U.S. same-store sales by 3% annually, while growing global retail sales and stores.
The company has met its annual targets so far for U.S. same-store sales and operating profit growth, but not global retail sales and international expansion. Pizza Hut and Papa John's have struggled further, reporting a series of declining U.S. same-store sales.
Jordan helped build the company's current strategy and said he aimed to maintain it, but also wanted to help franchisees maintain sharp price points while still being profitable. Domino's is speeding up new product introductions and is highlighting value in its advertising, he said.
Weiner said in an interview that his stepping down isn't tied to one disappointing quarter, but followed a yearslong process of identifying and developing a successor. Weiner is set to become executive chairman-designate in October and fully assume the role after Domino's current executive chairman, David Brandon, retires next year.
Weiner said he planned to remain closely involved in the business. "Fast-food is being pressured but the brands that are going to succeed are the brands that have the scale to continue to deliver," he said.
Write to Heather Haddon at heather.haddon@wsj.com
(END) Dow Jones Newswires
June 22, 2026 17:12 ET (21:12 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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