Jack Cowin, the billionaire chairman of Domino's Pizza Enterprises (ASX:DMP), has injected $3 million of fresh capital into the embattled fast-food giant, signalling a firm vote of confidence as the company navigates a turbulent leadership transition.
According to an ASX filing, Cowin acquired an additional 170,000 shares at $17.97 each through a private entity.
The on-market trade further solidifies his position as the company's largest shareholder, bringing his total ownership to approximately 26%.
The move comes at a critical juncture for the pizza chain, which has faced headwinds following the abrupt departure of former CEO Mark van Dyck last July.
Cowin, who stepped into an active role to manage day-to-day operations, has spearheaded an aggressive strategy to restore profitability by stripping back long-standing customer discounts.
While intended to bolster margins, the "value over volume" approach contributed to a noticeable slump in sales during the December half-year.
Investors are now looking toward the arrival of former McDonald’s executive Andrew Gregory, who is slated to take the reins as CEO by August.
Cowin's multi-million-dollar "top-up" suggests he believes the current share price undervalues the brand's long-term recovery potential despite these recent retail challenges.
At the time of reporting, Domino's Pizza Enterprises' share price was $18.55.