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Jim Chanos aside, the Street has had a hankering for Dunkin Brands Group Inc (NASDAQ:DNKN).
Still, the shop intends to sweeten its appeal with a fresh topping.
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Dunkin announced Wednesday that it appointed David Hoffmann, the president of Dunkin’ Donuts U.S., to succeed Nigel Travis as CEO. Travis will serve as executive chairman.
Who Is Hoffmann?
Hoffmann joined Dunkin’ Brands in October 2016 and has overseen strategic efforts to boost Dunkin’ Donuts’ position as an on-the-go, beverage-led chain.
He also headed the creation of a next-generation concept store, U.S. site expansion, and implementation of sustainability initiatives.
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"From his development and implementation of the Dunkin' Donuts U.S. Blueprint for Growth, to the relationships he has forged with our franchisees and the talent management skills he has exhibited, Dave has demonstrated he is exactly the person to lead the next phase of our global growth,” Travis said in the press release.
What Does He Bring?
The new CEO is familiar with global goals. Hoffmann comes equipped with 22 years of experience at McDonald’s Corporation (NYSE:MCD), including terms as vice president of strategy and franchising in Japan and president of high growth markets, which encompassed China, Russia and multiple European markets.
“When we recruited Dave to Dunkin' Brands 18 months ago with the intent that he would succeed me as CEO, we knew that we were getting a world-class leader with extensive restaurant industry expertise, and he has exceeded all of our expectations,” Travis said.
Dunkin’s stock traded down about 1.3 percent Wednesday, but remained up 30.1 percent year-over-year.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.