The man who led the turnaround ofDomino’s Pizza Inc. has been enlisted to help do the same for Best Buy Co. Inc.
Best Buy announced Tuesday that Domino’s CEO Patrick Doyle has joined its board of directors. The Richfield-based company touted Doyle’s work as applicable to its own turnaround campaign.
“The transformation work Patrick led at Domino’s is nothing short of remarkable,” Best Buy Chairman Hatim Tyabji said in anews release. “Best Buy is in the midst of a similar effort, and Patrick’s insights and experiences will be invaluable to the board and senior management.”
Doyle, 51, took over as CEO and president of Domino’s in March 2010, shortly after the Ann Arbor, Mich.-based pizza chain implemented a popular new recipe.
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Domino’s shares were about trading at about $14 when he took over. Now they’re trading at $90.
“Transformations are not easy but it is clear that this board and senior management are prepared to do the work necessary to delight Best Buy’s consumers, whether they come to the brand via the web or in stores,” Doyle said in a statement.
Date: November 04, 2014