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Morning Briefing for pub, restaurant and food wervice operators

Fri 18th Jan 2019 - Update: Young's, Domino's and D&D London
Young’s appoints interim chief financial officer: London pub retailer Young’s has appointed Daniel Quint as interim chief financial officer. The appointment comes after Steve Robinson resigned and left the business last month to pursue other interests. Young’s stated: “Daniel is an experienced private and public company chief financial officer with more than ten years’ board-level experience. From 2015 to 2018 he was chief financial officer at SPIE UK, a leading energy, safety and environmental solutions provider, and from 2010 to 2015 he was finance director for the UK, Middle East and Africa at Robert Walters, a global recruitment consultancy. Daniel has a strong entrepreneurial background and is a Fellow of the Institute of Chartered Accountants in England and Wales. Daniel joins Young’s on an interim basis while the company’s board is progressing with the process to appoint a permanent chief financial officer. Daniel is not a member of the company’s board.” Chief executive Patrick Dardis said: “I am pleased to welcome Daniel to Young’s – he brings with him the necessary skills and experience to lead our finance function while we progress the search for a permanent chief financial officer.”

Domino’s unveils target to grow 60% by 2025 with focus on largest international markets: Domino’s Pizza has unveiled plans to grow 60% in the next six years, with a target of 9,700 new stores by 2025. The company, which has 15,300 stores globally, said the majority of the expansion – more than 6,500 outlets – would occur in its largest international markets. The target almost doubles the company’s growth rate of 5,260 stores in the past six years. Domino’s has also projected $25bn in annual sales globally by 2025 – a number that doubles the pizza chain’s fiscal 2017 sales of $12.25bn, with domestic and international like-for-like sales both growing 3% to 6% in the next three to five years. Speaking at the company’s investor relations day, chief executive Richard Allison said: “The reason we want to achieve that goal is it creates a virtuous cycle in our business, and that starts with winning in every neighbourhood in every market. You don’t get to be dominant number one in the world without being dominant in every neighbourhood.” Domino’s said it planned to increase the number of restaurants in the same markets as a strategy for strengthening dominance and forcing out competitors. The company plans to continue investing in customer-facing and back-of-house technology, including a next-generation point-of-sales system. It added its loyalty programme had 20 million “active” users in 2018, which includes members who have ordered from Domino’s at least once in the past six months.

Des Gunewardena aims to make doggy bags ‘cool’ as D&D London reveals new waste reduction measures: Des Gunewardena, chairman and chief executive of restaurant operator D&D London, is aiming to “make doggy bags cool” to prevent waste. Gunewardena said Britons needed to be “less embarrassed” about asking to take leftovers home. He told the Evening Standard: “In America, portions are way too big so everyone has doggy bags. It’s not something many people do in upmarket restaurants in London. I want to make doggie bags cool. We really want to encourage people to take home their leftovers.” He spoke as D&D London revealed new waste reduction measures at its 36 British restaurants. The Waste Not, Want More campaign is taking place in collaboration with The Felix Project, which delivers waste food to groups across London that feed the hungry. Recyclable cardboard boxes for doggy bags, waste food set menus, wellness classes, and talks and workshops on health and the environment will also be introduced.

SSP independent non-executive director to step down: SSP Group, the UK-based transport hub foodservice specialist, has announced independent non-executive director Denis Hennequin has decided not to stand for re-election at the company’s annual general meeting next month. Chairman Vagn Sørensen said: “We would like to thank Denis for his input since joining the board shortly before the initial public offering in 2014. He has brought great experience and insight to the board and we wish him well for the future.”

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