Jubilant FoodWorks Shares Plunge 13% As CEO Resigns

Shares in Jubilant Foodworks the master franchise for international like brands, Domino's Pizza, Dunkin' Donuts and Popeyes saw its share price plunge by 13%, following the resignation of the CEO.

"We wish to inform you that the Board of Directors of the Company in their meeting held today accepted the resignation of Mr. Pratik Rashmikant Pota as the CEO and Wholetime Director of the Company as he wishes to pursue opportunities outside Jubilant FoodWorks Limited. Mr. Pota will continue in his current role till Wednesday, June 15, 2022.

The Board places on record its sincere appreciation for the outstanding contribution made by Mr. Pota during his tenure with the Company and wishes him the very best in his future endeavors. The Board has also initiated the process of identifying his successor," the company has stated in a release.

The stock of Jubilant Foodworks was last seen trading at Rs 2541, down 13% on Monday.