Dark days for Don's Domino's
The former market darling is in the dog house and its cult leader is long gone.
As shares in Domino's Pizza Enterprises sank to a 12-year low in September – down 90 percent from its all-time high – one former shareholder didn't have to worry about tightening his belt. That would be the company's managing director (and chief enthusiasm officer) of 22 years, Don Meij.
During his time at the top, the Don offloaded roughly 8.1 million shares for net proceeds (after adjusting for the exercise price of share options) of $93 million, according to ASX filings between 2006 and 2024. The vast majority of those shares were share options earned for meeting various performance targets set by the board. Once his fixed and short-term incentive pay is included, he raked in more than $160 million. That's a lot of salve for a bruised ego.
Meij was a polarising CEO. Fund managers loved him or dissed him, and the disrespect often got under his skin. But through it all, the Don promoted Domino's growth prospects louder than a carnival barker and with more passion than a southern Baptist preacher. Domino's even funded and operated his personal website.