Taste Holdings, which owns Starbucks and Domino’s Pizza, announced today, 12 February 2018, that its co-founder Carlo Gonzaga had resigned as the Chief Executive Officer.
Taste, a South African-based management group that owns and licenses a portfolio of franchised and owned retail brands, said Gonzaga would remain employed for six months, supporting the new interim CEO and the Board.
Gonzaga co-founded the Taste Group with his father, Luigi and Duncan Crosson, currently an Executive Director of Taste in the year 2000 with a single pizza outlet in Westville, Durban.
Shareholders are advised that Gonzaga tendered notice of his decision to resign from the position of Chief Executive Officer (CEO).
Tyrone Moodley will change his function from Non-Executive Director and be appointed to the Group CEO role effective 12 February 2018.
Tyrone has been a Non-Executive Director of Taste since October 2016 and is a senior advisor to Protea Asset Management LLC, the investment advisor to Riskowitz Value Fund LP (RVF).
RVF and its affiliates, have been Taste shareholders since 2010 and recently increased their stake in Taste to 64.5%.