Dunkin' President fired

Posted by Kayla Phantom On Friday, September 23rd 2011 in Finance

Dunkin' Brands Group Inc decided on Friday that its international president, Neal Yanofsky, had to leave after serving only four months on his post.

"We mutually agreed that this was not a good fit for Neal or Dunkin' Brands, and we will not disclose any further details," a company spokesman explained.

Dunkin' Donuts International will now report to Chief Executive Nigel Travis, while Baskin-Robbins International will have to report to Chief Financial Officer Neil Moses. A few months ago, CEO Travis was quick to praise the former president.

"Neal is a strategic thinker with a demonstrated ability to build successful companies," Travis said in May when Yanofsky joined the company. "His vast knowledge of operations, finance and marketing make him ideally suited to lead our international operations, drive profitable growth and enhance support for our franchisees around the world."

The man was previously the CEO of Generation Mobile, the president of Panera Bread Co (PNRA.O) and the chief marketing officer of Au Bon Pain.

"While we're disappointed by the news given Yanofsky's extensive retail and restaurant experience, the catalyst for the departure seems to be cultural differences rather than disappointing performance at the (international) segment," said Barclays Capital analyst Jeffrey Bernstein.

On Friday the company announced it would be making marketing changes in order to ensure its growth. The company also plans to add 450-500 new Dunkin’ shops and Baskin-Robbins ice cream stores worldwide. The latest count showed that there are approximately 3,000 Dunkin' Donuts and more than 2,500 Baskin-Robbins shops outside the United States.