Jubilant Foodworks Shares Fall 7% As CEO Resigns

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Shares in Jubilant Foodworks, fell more than 7 per cent, as CEO and wholetime director of the company, Ajay Kaul resigned.

Ajay Kaul was instrumental in making the company the largest operator of Dominos Pizza chain, outside the United States.

Jubilant Foodworks Shares Fall 7% As CEO Resigns
According to a press release issued by the company, the board of directors have accepted the resignation of Mr. Kaul.

"Kaul has stepped down to evaluate and pursue opportunities outside the Jubilant Bhartia group," the release added.

Kaul's departure comes at a time, when the company has been struggling to keep-up with its initial momentum. The qaurterly numbers for June 30, 2016 were the worst investors have seen from the company in recent times.

Jubilant Foodworks shares was last trading at Rs 935 on the BSE.


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