MAM
Orkla India bulks up boardroom with quartet of new directors
MUMBAI: Orkla India has given its board a significant makeover, welcoming four new non-executive independent directors and expanding its ranks to eight. The move aims to bolster the company’s strategic direction and strengthen its corporate governance.
The new additions – Rashmi Joshi, Amit Jain, Shantanu Khosla, and Meena Ganesh – join the existing board members: chairman Atle Vidar Nagel Johansen, Maria Syse-Nybraaten, Per Havard Skiaker Maelen, and Sanjay Sharma. This expansion ensures a broad spectrum of expertise across multiple domains, a vital ingredient for Orkla India’s ambitious growth plans.
“We’re assembling a dream team,” said an inside source, “a blend of seasoned pros and fresh perspectives to drive us forward.”
The restructuring is a clear indication of Orkla India’s commitment to robust corporate governance, aligning with its strategic objectives. “This isn’t just about filling seats,” a company spokesperson explained, “it’s about building a powerhouse board, ready to tackle any challenge.”
Brands
Domino’s Q1 profit falls 6.6 per cent, announces $1 billion buyback
Sales rise 3.4 per cent as pizza giant balances growth and shareholder returns
NEW YORK: Domino’s reported a mixed start to 2026, with first-quarter net income slipping even as global sales and store expansion held steady. The company also announced a fresh $1 billion share buyback, underlining its continued focus on shareholder returns.
Global retail sales rose 3.4 per cent on a constant-currency basis to $4.74 billion. The US remained a key growth engine, with same-store sales inching up 0.9 per cent, supported by a 1.5 per cent rise at company-owned outlets.
International markets, however, painted a more uneven picture. While Domino’s added 161 net new stores overseas during the quarter, international same-store sales declined 0.4 per cent. Overall revenues still climbed 3.5 per cent to $1.15 billion, driven by higher supply chain revenues and a 2.6 per cent increase in food basket pricing for franchisees.
On the profitability front, net income fell 6.6 per cent to $139.8 million, compared to $149.7 million a year earlier. Diluted earnings per share dropped to $4.13 from $4.33. The decline was largely attributed to a $30 million unfavourable swing in unrealised gains linked to its investment in DPC Dash Ltd.
Despite this, operational performance showed resilience. Income from operations rose 9.6 per cent to $230.4 million, supported in part by a $7.8 million pre-tax gain from the sale of a corporate aircraft.
Domino’s footprint continued to expand, with the company ending the quarter at 22,322 stores across more than 90 markets. In the US, digital orders remained dominant, accounting for over 85 per cent of retail sales in 2025.
The company also maintained its dividend payout, declaring $1.99 per share, payable on 30 June 2026. After repurchasing $75.1 million worth of stock during the quarter, the new authorisation lifts the total available for buybacks to $1.29 billion.
Domino’s chief executive officer Russell Weiner said the company’s scale and store-level economics position it well to capture further market share in 2026, even as competition intensifies.
As Domino’s leans into expansion and capital returns, the latest results show a business managing short-term pressures while keeping its long-term growth strategy firmly in play.
