With the retirement of Dunkin' Brands (NASDAQ:DNKN) Chairman Jon Luther on May 15, the board of directors has bestowed upon company CEO Nigel Travis the additional duties of the soon-to-be-vacant position.
Luther joined Dunkin' Brands in January 2003 as CEO and added the chairman's role in 2006. Travis was named CEO in January 2009.
Travis commented on his predecessor's tenure, noting: "All of us at Dunkin' Brands owe Jon Luther a tremendous debt of gratitude for his leadership and his vision. Thanks in large part to his efforts, Dunkin' Donuts and Baskin-Robbins are world-class brands and are well positioned for growth. On behalf of our employees and franchisees from around the world, I wish Jon and his family the very best in the years ahead."
In addition to naming Travis chairman, the board also appointed former McDonald's president and COO Raul Alvarez to the position of lead independent director. He was previously appointed to the Dunkin' Brands board in May 2012.