The head of Domino’s Pizza, CEO J. Patrick Doyle, is facing criticism from company shareholders for a generous pay package he’s collected over the past three years that comes in at $43 million.
Investors took their ire out on Andrew Balson, the director who heads up the board’s compensation committee: About a third refused to re-elect him, the New York Post reported. Another quarter of the directors outright voted against the pay plan for Mr. Doyle and other executives that was on the table for discussion.
“[Balson’s] a serial over payer,” said Michael Pryce-Jones with Change to Win Investment Group, which advises trade-union pension funds, in the New York Post. “Unfortunately, he’s also got thick skin.”
Still, the company ultimately put out a statement that it was “pleased [a] substantial majority” of shareholders gave their stamp of approval to Domino’s new pay plan and to Mr. Balson’s re-election. “We appreciate this vote of confidence in our board, our CEO [and in] our senior leadership team.”
The seeming exorbitant pay to Mr. Doyle is balanced by Domino’s surging revenues these past years: In 2013, shares jumped 63 percent. And that’s after jumping 113 percent in 2010; 28 percent in 2011; and 90 percent in 2012, the New York Post reported.
• Cheryl K. Chumley can be reached at cchumley@washingtontimes.com.
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