(Bloomberg) -- Dunkin’ Brands Group named David Hoffmann CEO and said he will remain president of Dunkin’ Donuts U.S.
Nigel Travis, who became CEO in January 2009, is retiring and will become executive chairman
Hoffmann joined Dunkin’ Brands as president of Dunkin’ Donuts U.S. in October 2016
Hoffmann will receive an annual base salary of $900,000 and will be eligible to receive an annual target cash incentive opportunity equal to 125% of his annual base salary
Hoffmann also received an award of restricted stock units valued at about $1.5 million
Shares were down about 1.3% premarket
To contact the reporter on this story: Melodie Warner in New York at mwarner19@bloomberg.net
To contact the editor responsible for this story: Lauren Berry at lberry4@bloomberg.net
