Dunkin’ Brands International President Leaves after only Four Months at the Company (DNKN)

Dunkin Brands Group Inc. (NASDAQ: DNKN), a franchisor of quick service restaurants servicing hot and cold coffee and bake goods, today announced that Neal Yanofsky, the President of its coffee and doughnut chain’s international business, is leaving the company by mutual agreement. Yanofsky is leaving after serving in his position for only four months.

Dunkin Brands said that it will start a search for a successor shortly. Dunkin, whose brands include the Baskin Robbins ice cream shops, has been focusing on international expansion. In the second quarter, the company’s international revenue was 21% of the total segment revenue.

Yanofsky joined the company back in May this, two months before it went public in July. Following his departure, CEO Nigel Travel will be in charge of the international business on an interim basis. Meanwhile, CFO Neil Moses will be in charge of Baskin-Robbins international on an interim basis. Chief Global Marketing and Innovation Officer John Costello will be in charge of marketing and product innovation for both the company’s brands.

Dunkin released its second-quarter financial results last month. The Canton, Massachusetts-based company reported a 1% decline in second-quarter profit due higher expenses and lower sales at Baskin Robbins, which masked the company’s growth in the international markets and at its Dunkin Donuts brand. In the second quarter, revenue at Dunkin Donuts climbed 17% internationally and 6.3% in the U.S. Baskin Robbins revenue increased 8% internationally and fell 5.8% in the U.S.

Dunkin Brands shares are higher in trading today. The stock touched a high of $27.89 and is currently up 1.19% to $27.65. In the last one month Dunkin Brands shares gained 5.57%, compared with a gain of 1.15% for the Nasdaq. Since the IPO, the stock is down 1.26%, compared with a 10.50% decline for the Nasdaq.

Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.