Dunkin' Brands longtime CEO Nigel Travis retires

MarketsAssociated Press

Dunkin' Brands Group CEO Nigel Travis is retiring and will be replaced by David Hoffmann.

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Travis, 68, has been CEO for almost a decade.

The Canton, Massachusetts, company said Wednesday Travis was named executive chairman of the board of directors.

Hoffmann, 50, will take over the CEO position immediately. He will also serve on the board of directors and remains president of Dunkin' Donuts U.S. Before joining Dunkin' Brands, Hoffman spent 22 years at McDonald's Corp.