P.M. BRIEFING : Domino’s Chairman May Sell Out
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ANN ARBOR, Mich. — The chairman of Domino’s Pizza Inc. says he may sell the company he founded in 1960 and built into the nation’s largest pizza delivery chain so he can devote more time to charity work.
“I am in a position to help various charities that I deeply believe in,” said Tom Monaghan in a letter last week to corporate employees and franchise owners. “I have discovered that this is a very big job, and it is not fair to give divided attention to Domino’s Pizza and my foundation work.”
The letter was sent to 800 franchise owners, who own about two-thirds of the more than 5,100 Domino’s stores in 17 countries. It also went to Domino’s 16 regional offices and to about 300 employees at its headquarters here.
“They haven’t put a value on the company, and I think that’s what he meant by exploring the possibility of a sale,” Domino’s spokesman Ron Hingst said Sunday. He emphasized that a sale is only a possibility.
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