Domino's Pizza's chief financial officer David Bauernfeind died in a snorkelling accident on Boxing Day while on holiday with his family.
The 51-year-old had been in Mauritius at the time of the tragic accident, the company has confirmed.
David Wild, Domino's CEO, said: "We are all deeply shocked and saddened by this tragic news. On behalf of our board, our colleagues and our franchisees, we send our heartfelt sympathies to David's wife Nicolette and daughter Ornella as well as his wider family and friends.
"David was hugely liked and deeply respected for his dedication and sharp intellect amongst Domino's colleagues. He was a force for good within the business and will be greatly missed."
Bauernfeind had been named as permanent CFO in 2018, having previously held the role on an interim basis.
Domino's has said an announcement about his successor will be made in due course.