Document
false0001357204 0001357204 2019-12-12 2019-12-12

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 

FORM 8-K
 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 12, 2019
 

DUNKIN’ BRANDS GROUP, INC.
(Exact name of registrant as specified in its charter)
 

Delaware
(State or Other Jurisdiction of Incorporation)
 
 
001-35258
20-4145825
(Commission
File Number)
(IRS Employer
Identification Number)
130 Royall Street
Canton, Massachusetts 02021
(Address of registrant’s principal executive office)
(781) 737-3000
(Registrant’s telephone number)


 Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.001 par value per share
DNKN
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.
On December 12, 2019, Dunkin’ Brands Group, Inc. (the “Company”) announced that the Company has promoted Scott Murphy to the position of President, Dunkin’ Americas.
Mr. Murphy joined the Company in 2004, and has served as Chief Operating Officer, Dunkin’ U.S. since January 2018. Prior to that appointment, Mr. Murphy served as Senior Vice President, Operations, Dunkin' U.S. and Canada, and previously served as Senior Vice President and Chief Supply Officer. Mr. Murphy’s prior experience includes 10 years of global management consulting with A.T. Kearney. Mr. Murphy has previously served on the board of directors of Oath Craft Pizza, the National Coffee Association of America, the International Food Service Manufacturers Association and National DCP, LLC.
Compensation for Mr. Murphy
In connection with his promotion, Mr. Murphy will receive an increase in his base salary to an annualized base salary of $600,000, payable in accordance with the Company’s normal payroll practices. Mr. Murphy’s base salary will be subject to annual review by the Compensation Committee (the “Committee”) of the Company’s Board of Directors. Mr. Murphy will continue to participate in the Company’s annual management incentive plan. Under such plan, Mr. Murphy will be eligible to receive an annual target cash incentive opportunity of 75% of his annual base salary earnings.

Mr. Murphy will remain eligible for future awards under the Company’s annual long-term incentive award program in effect for other senior executives of the Company. It is expected that his 2020 annual grant will have a total grant date fair market value of approximately $800,000.

In addition, Mr. Murphy will continue to be entitled to benefits as are generally made available to other senior executives of the Company, including participation in health/medical and insurance programs.  In the event that Mr. Murphy’s employment is terminated by the Company without cause, he would be entitled to severance of up to 12 months’ of his then-current base salary, payable in the form of salary continuation, in accordance with the terms of his offer letter. He will also be subject to customary confidentiality and non-competition provisions.

On December 12, 2019, the Company issued a press release announcing the promotion of Mr. Murphy. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
 
99.1
 
 
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)




SIGNATURES
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.
 
 
By:
/s/ W. David Mann
 
W. David Mann
 
Chief Legal Officer & Corporate Secretary
Date: December 12, 2019
 



Exhibit

Exhibit 99.1


https://cdn.kscope.io/0df2e5b9de3adf90c97ce681d144c289-dbilogo.jpg


DUNKIN’ BRANDS NAMES SCOTT MURPHY PRESIDENT, DUNKIN’ AMERICAS

Dana Reid Appointed Vice President, Field Marketing, Dunkin’ U.S.
 

CANTON, Mass. (December 12, 2019) – Dunkin’ Brands, the parent company of Dunkin' and Baskin-Robbins, today announced that Scott Murphy, formerly Dunkin’ U.S. Chief Operating Officer, has been promoted to President, Dunkin’ Americas. He assumes the role from Dave Hoffmann, who continues to serve as Dunkin’ Brands CEO. Additionally, Dana Reid has been promoted to Vice President, Field Marketing, Dunkin’ U.S.

Murphy, a 15-year veteran with the company, will have responsibility in his new role for all aspects of operations, restaurant development, franchising, field marketing, supply chain, and consumer packaged goods (CPG) for the approximately 10,000 Dunkin’ restaurants in North and South America.

“Scott is a rare leader who is both strategic and impactful. He inspires all who work with him through his vision, attention to detail, and ability to implement change. During his tenure with the company, Scott has earned the respect of his peers, forged strong relationships with franchisees and suppliers, and contributed significantly to the company’s success with a strong focus on franchisee profitability. He has also been a key leader in implementing the Blueprint for Growth, our five-year strategic plan for Dunkin’ U.S.,” said Dave Hoffmann, Dunkin’ Brands CEO. “His most recent accomplishments include the rollout of menu simplification, our highly successful espresso relaunch, operational improvements, and the expansion of our NextGen restaurants. I am confident that under Scott’s leadership, we will continue to build on our legacy of strong franchisee relations and drive customer noticeable change at Dunkin’.”

“I am also pleased to announce the promotion of Dana Reid. Dana is a strong people manager with keen marketing skills and solid franchisee relationships, making her the



ideal leader to oversee our field marketing team, which works closely with operations and franchisees to drive sales, traffic and brand loyalty,” continued Hoffmann.  “With the promotion of these two deserving individuals, I am confident we will better serve our guests, better partner with our franchisees and continue to move the Dunkin’ U.S. business forward.”

Murphy joined Dunkin’ Brands in 2004 as Director, International Supply Chain and became the Vice President of Strategic Supply later that same year. In 2013, he was named Chief Supply Officer & SVP International Operations and was promoted to Senior Vice President of Operations, Dunkin’ U.S. & Canada in 2015. He was named Dunkin’ U.S. Chief Operating Officer in 2018. Prior to Dunkin’, Murphy was with A.T. Kearney, a global management consulting firm. He graduated from Georgetown University with a Bachelors’ degree in marketing and international business. He earned his MBA from the MIT Sloan School of Management.

Reid joined Dunkin’ Brands in 2008 as a Dunkin’ U.S. Field Marketing Manager and was promoted to Director in 2017. She became Senior Director for the same division in 2018. Prior to Dunkin’, Reid was Vice President, Marketing and Communications, for the Fenway Sports Group. She began her career with MasterCard Worldwide as part of their sponsorships team. Reid earned her Bachelors’ degree in sports management from the University of Massachusetts, Amherst.
###

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 third quarter 2019, Dunkin' Brands' 100 percent franchised business model included over 13,000 Dunkin' restaurants and more than 8,000 Baskin-Robbins restaurants. Dunkin' Brands Group, Inc. is headquartered in Canton, Mass.











Contact(s):
Stacey Caravella (Investors)
 
Karen Raskopf (Media)
Senior Director, Investor Relations
 
SVP, Corporate Communications
Dunkin’ Brands Group, Inc.
 
Dunkin’ Brands Group, Inc.
investor.relations@dunkinbrands.com
 
karen.raskopf@dunkinbrands.com
781-737-3200
 
781-737-5200
 
 


 
 
Michelle King
 
 
Sr. Director Global Public Relations
 
 
Michelle.king@dunkinbrands.com
 
 
781-737-5200