SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 11, 2019
DUNKIN’ BRANDS GROUP, INC.
(Exact name of registrant as specified in its charter)
(State or Other Jurisdiction of Incorporation)
130 Royall Street
Canton, Massachusetts 02021
(Address of registrant’s principal executive office)
(Registrant’s telephone number)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Name of each exchange on which registered
Common Stock, $0.001 par value per share
Nasdaq Global Select Market
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Selection 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers and Other Events.
(b) and (e) Effective as of December 1, 2019 (the “Transition Date”), Tony Weisman, Chief Marketing Officer, Dunkin’ U.S., will step down as an employee of Dunkin' Brands Group, Inc. and its subsidiaries (the “Company”) pursuant to a separation agreement dated October 11, 2019. Under that agreement, Mr. Weisman will continue to receive his base salary and benefits through the Transition Date. The Company will pay Mr. Weisman, as severance, his current base salary for a period of up to twelve (12) months following the Transition Date, in accordance with the offer letter between Mr. Weisman and the Company dated August 6, 2017. In addition, Mr. Weisman will receive a lump sum cash payment in the amount of $250,000 within fifteen days of the Transition Date, and Mr. Weisman will receive a one-time payment equal to a pro-rated portion of his 2019 annual management incentive plan (the “Annual Plan”) award based on the Company’s achievement of the performance targets established under the Annual Plan. In consideration of the additional severance benefits described above, Mr. Weisman and the Company agreed to additional customary covenants and releases.
Item 9.01 Financial Statements and Exhibits.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DUNKIN’ BRANDS GROUP, INC.
/s/ W. David Mann
W. David Mann
Chief Legal Officer & Corporate Secretary
Date: October 15, 2019
DUNKIN’ BRANDS ANNOUNCES DEPARTURE OF TONY WEISMAN, DUNKIN’ U.S. CHIEF MARKETING OFFICER
CANTON, MA (OCT. 15, 2019) – Dunkin’ Brands, the parent company of Dunkin' and Baskin-Robbins, today announced that Tony Weisman, Chief Marketing Officer Dunkin’ U.S., is stepping down from his position effective December 1, 2019. The company will immediately begin a search for his replacement, and Mr. Weisman has agreed to assist in the search. Until the appointment of a new CMO, the marketing department will report to Dave Hoffmann, Dunkin’ Brands CEO and Dunkin’ U.S. President.
“Tony has played a key role in the transformation of our brand, including our widely lauded decision to drop “Donuts” from our logo, our very successful espresso relaunch, and the introduction of innovative products like our plant-based Beyond Sausage® Breakfast Sandwich, currently available in Manhattan. Additionally, he has assembled a highly talented marketing and culinary team, and an award-winning group of outside creative agencies, all of whom will enable us to continue to move ahead with our plans to make Dunkin’ America’s most loved, beverage-led brand,” said Hoffmann. “Tony has been a great business partner to me and the rest of the leadership team, and we wish him all the best with his next endeavor.”
Since joining the company in September 2017, Weisman has overseen marketing, product innovation, field marketing, consumer insights and advertising, as well as the brand’s digital and consumer-packaged goods (CPG) initiatives for Dunkin’ U.S.
“I am tremendously proud of all we have accomplished at Dunkin’ over the past two years and proud to have been part of this incredible brand at this point in its history,” said Weisman. “It has been an honor to work with this management team, our strong marketing team and a great group of franchisees. I have been a passionate Dunkin’ fan
my entire life and will continue to be a loyal customer as I move on to my next opportunity.”
About Dunkin' Brands Group, Inc.
With more than 21,000 points of distribution in more than 60 countries worldwide, Dunkin' Brands Group, Inc. (Nasdaq: DNKN) is one of the world's leading franchisors of quick service restaurants (QSR) serving hot and cold coffee and baked goods, as well as hard-serve ice cream. At the end of the second quarter 2019, Dunkin' Brands' 100 percent franchised business model included over 12,900 Dunkin' restaurants and more than 8,000 Baskin-Robbins restaurants. Dunkin' Brands Group, Inc. is headquartered in Canton, Mass.
Stacey Caravella (Investors)
Karen Raskopf (Media)
Senior Director, Investor Relations
SVP, Corporate Communications
Dunkin’ Brands Group, Inc.
Dunkin’ Brands Group, Inc.