Lance Batchelor, the outgoing boss of Domino’s Pizza, is to take the helm at over-50s travel and insurance group Saga.
He will become chief executive from May after almost three years at the pizza delivery group.
Domino’s said on Friday that Batchelor was departing to join “a significant private equity backed company”.
It has now been disclosed that his new role is with Saga, which is eyeing a stock market flotation within the next 12 to 24 months.
It is thought that Batchelor’s experience as boss of a listed company appealed to Saga, the Daily Telegraph reported.
Saga executive chairman Andrew Goodsell is expected to become non-executive chairman once Batchelor has settled into his new role, a transition that is likely to happen following the float.
“Saga is five times the size of Domino’s and offered me a fantastic leadership opportunity,” Batchelor, who used to run Tesco’s telecoms business, told the Financial Times.
Private equity-owned Acromas Holdings is the parent company of both Saga and the AA. The breakdown recovery group is likely to be sold by Acromas.