Best CEOs of 2011: Sullivan
"Street Signs" Co-Anchor
2011's Best CEO
Full disclosure: my wife works for a company that does business with Macy’s.
Number 1: Patrick Doyle, Domino’s Pizza.
It’s rare when a company’s marketing strategy is “we can do better,” but that’s exactly the refreshing tact Doyle and Domino’s Pizza took this year.
The honesty seems to have worked, as sales in the 3rd quarter rose handily. Gross margins are also up year over year, not an easy feat as consumers watch every penny and the pizza wars keep pushing prices down.
Domino’s shares have been as hot as a fresh slice, more than doubling this year and outpacing rivals such as Papa Johns . Sales, earnings and net income are all well up from last year.
Doyle is also making a big push outside of the U.S., with sales at international stores growing faster than stateside. He’s also reduced Domino’s total debt by more than $200 million since the end of 2007. Forbes ranked Domino’s as the #1 franchise bang for the buck earlier this year, citing low overhead costs and an expanded menu. The company also boasts a special school lunch program using sauce with lower sodium levels.
In May, billionaire investor Nelson Peltz reported a 9.7 percent stake in Domino’s. The solid results, shareholder gains and growth in one of the toughest retail markets makes Patrick Doyle my top CEO of 2011.
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