Domino's paid more than 3 lakh as 'pizza expenses' for former CEO Ritch Allison
1 min read 17 Mar 2023, 06:40 PM ISTPizza expenses were just one of the many attractive compensations which included private jet, cost of living expenses etc.
PremiumFormer Dominos Chief Executive Officer (CEO) Ritch Allison was not lying when he called his position a "privilege of a lifetime" before stepping down in 2022. The food chain's most recent regulatory filing informed that he was compensated around $4,000 (more than 3 lakh rupees) for personal pizza expenses. The regulatory filing was related to executive compensation.
According to a report published on the news platform Free Press Journal, Allison retired from his position in May 2022 and submitted a bill for $3,919 (3.23 lakh rupees) in "personal pizza purchases" in 2021. The pizza purchase was just one of the other attractive compensations company offered him like using the company's private jet, team member awards, and cost-of-living allowances.
Ritch Allison's total compensation is estimated to be at around $7,138,002 (almost 58 crores in rupees), so a $3,919 doesn't seem very significant from that perspective.
During the pandemic year of 2020, "personal pizza expenses" of Allison reached up to $6,129 (around 5 lakh rupees).
While leading the tech-based food company, Allison actively encouraged a culture of risk-taking and innovation, the Free Press Journal report said.
He devoted more than ten years of service to Domino's, during which he served as the company's chief executive officer for a four-year period before his retirement in the spring of 2022.
Domino's is known for its fast and efficient delivery service and its commitment to using fresh ingredients in its pizzas. The company has also been at the forefront of technology in the food industry, pioneering innovations such as online ordering, mobile apps, and even autonomous delivery vehicles.
