July 2 (Reuters) - Australia's Domino's Pizza

Enterprises announced on Wednesday its CEO and Managing

Director Mark van Dyck would be stepping down before Christmas.

Van Dyck - who has held management positions at LG

Electronics and Coca-Cola - was appointed as

Domino's CEO in November 2024 following the resignation of

long-serving CEO Don Meij, who led the company for over two

decades.

Shares of the pizza maker fell as much as 18.3% to A$16.460

as of 0054 GMT, hitting its lowest level since February 10,

2014.

The abrupt van Dyck's exit announcement, which comes just

seven months after taking the reins, has further added to

leadership turmoil at the firm. A slew of management changes has

led to a drastic fall in the share price of the company, which,

in September 2021 grew to be valued at A$14.46 billion when the

shares hit an all-time high.

The stock has been whipsawed over the last few months,

losing around 40% since early November of last year.

Earlier in May, Kerri Hayman, the chief executive for the

Australia and New Zealand business, announced her resignation

after being just over half a year in the role.

The board has begun a global search process to replace the

incumbent CEO, the firm said in its statement.

The pizza maker added that current Chairman Jack Cowin would

take on the role of executive chair on an interim basis,

effective immediately.