(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
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