Krispy Kreme CEO to step down
New Krispy Kreme CEO to take over during 'strong period of growth'
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Krispy Kreme announced Monday that CEO Michael Tattersfield is stepping down in January after six years at the helm of the doughnut maker.
Tattersfield, who has been the chief executive officer since 2017, will be succeeded by Josh Charlesworth effective Jan. 1, Krispy Kreme said.
During his time at the North Carolina-based chain, Tattersfield has been credited with leading "a significant expansion and transformation" that resulted in revenue growing from $550 million in 2016 to more than an estimated $1.6 billion in 2023.
MCDONALD'S DOING WIDER TEST OF KRISPY KREME DOUGHNUT SALES IN KENTUCKY
Tattersfield will remain on the company's board and will continue to be a "significant investor" in the company.
A Krispy Kreme glazed doughnut is shown on May 12, 2022, in Daly City, California. ((Photo Illustration by Justin Sullivan/Getty Images) / Getty Images)
After joining Krispy Kreme in 2017, Charlesworth served in various leadership positions including global president, chief operating officer and chief financial officer.
He is taking over at a "strong period of growth at the company," according to Krispy Kreme.
Josh Charlesworth named Krispy Kreme CEO, effective January 1, 2024. (Business Wire/ Krispy Kreme)
In its announcement, the company touted that it delivered four back-to-back quarters of double-digit organic revenue growth and expanded its global reach through its omnichannel sales strategy and asset-light distribution model.
It also reaffirmed its full-year 2023 guidance, which is trending "toward the middle to the higher end of the revenue range," the company said.
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It previously estimated that net revenue would fall between $1.65 billion and $1.68 billion.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DNUT | KRISPY KREME | 10.99 | +0.07 | +0.64% |
The company currently operates in 30 countries and serves customers through its doughnut shops, partnerships with leading retailers as well as its online and delivery business.