On Monday this week, Jubilant FoodWorks announced that the chief executive and whole time director of the company, Ajay Kaul has resigned.
The company announced the resignation in a BSE filing and said that Kaul will continue in his current role until March 2017. “Kaul has stepped down to evaluate and pursue opportunities outside the Jubilant Bhartia group,” the statement said.
Meanwhile, Kaul said to the Economic Times “I am figuring out various options which could range from CSR to private equity.”
Kaul has been with Jubilant FoodWorks, which is the India franchise for Domino’s Pizza and Dunkin’ Donuts. Jubilant FoodWorks runs 1,062 Domino’s stores and 73 Dunkin’ Donuts outlets.
Following the announcement, shares for Jubilant FoodWorks were trading at 7.09 per cent down at Rs.934 on Tuesday morning.
In the June quarter, Jubilant FoodWorks had reported that its net profit fell 31% to Rs.19 crore.