Dunkin’ Brands (NASDAQ:DNKN) Chief Executive Nigel Travis was given the additional role of chairman at the restaurant operator, as current Chairman Jon Luther is set to retire on May 15.
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The company’s board also named Raul Alvarez, a former McDonald's Corp. (MCD) president and chief operating officer, its lead independent director.
Travis, 63, took the helm in 2009. Luther, 69, became CEO of the Dunkin’ Donuts and Baskin-Robbins parent in 2003 before also taking on the role of chairman in 2006.
Canton, Mass.-based Dunkin’ Brands has undertaken an effort to expand its Dunkin’ Donuts chain westward in the U.S., while it works to turn around its Baskin-Robbins ice cream business. Last month, the company reported an 8.3% decline in first-quarter profit, although revenue climbed 6.2%. Most same-store sales also improved, with the exception of Baskin-Robbins in the U.S.