Investing.com-- Shares in Domino’s Pizza (NYSE: DPZ ) Enterprises (ASX: DMP ) slumped to an over 11-year low on Wednesday after the company said Group CEO Mark van Dyck would step down by year-end.

Shares of the Australian-listed operator of the global pizza chain plunged as much as 17.8% to A$16.55, their lowest level since February 2014.

Van Dyck, who led a restructuring effort including store closures and management overhauls, will depart on December 23.

Chairman Jack Cowin will serve as interim Executive Chair while the board searches for a successor, the company said in a statement.

The company reaffirmed its strategic focus on franchisee profitability and cost efficiency.