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Posted 16 September, 2022

Krispy Kreme, Inc. appointed new CEO

CEO Change detected for ticker Nasdaq:DNUT in a 8-K filed on 16 September, 2022.


  On September 14, 2022, Patricia Capel and Ozan Dokmecioglu, both members of the Board, notified Michael Tattersfield, the Chief Executive Officer of the Company, of their resignation from the Board, to be effective on September 15, 2022.  

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Overview of Krispy Kreme, Inc.
Leisure/Arts/Hospitality • Restaurants
Krispy Kreme, Inc. produces and distributes doughnuts. It offers yeast-raised doughnuts, pies, coffees and espresso drinks, chillers and iced beverages. It operates through the following segments: U.S. and Canada, International, and Market Development. The U.S. and Canada segment includes all Krispy Kreme’s company-owned operations in the U.S. and Canada, Insomnia-branded retail shops and consumer packaged goods operations. The International segment consists of all Krispy Kreme's company-owned operations in the United Kingdom, Ireland, Australia, New Zealand, and Mexico. The Market Development segment handles the franchise operations across the globe, as well as Krispy Kreme company-owned shops in Japan. The firm sells its products through mass merchant, grocery and convenience stores. The company was founded in 1937 and is headquartered in Charlotte, NC.
Market Cap
$2.12B
View Company Details
Krispy Kreme, Inc. by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Election of Director

On September 15, 2022, the Board of Directors (the "Board") of Krispy Kreme, Inc. ("the Company") elected Philip Telfer to the Board. Mr. Telfer has been named to the Audit & Finance Committee of the Board. Mr. Telfer will participate in the Company's director compensation program. A complete description of the Company's director compensation program is set forth in the Proxy Statement filed with the Securities and Exchange Commission (the "Commission") on April 18, 2022 ("Compensation Discussion and Analysis - Director Compensation Table"), incorporated herein by this reference. Mr. Telfer is not a party to any transaction with the Company that would be reportable under Item 404(a) of Regulation S-K under the Securities Act of 1933. Mr. Telfer is not a party to any material plan, contract, or arrangement in connection with his election to the Board.

Mr. Telfer will serve for an initial term to expire concurrently with the terms of the other members of the Board at the Company's 2023 Annual Shareholders Meeting, or until his earlier death, resignation, or removal.

The Board has determined that Mr. Telfer is an "independent director" as defined under the listing requirements of Nasdaq. With Mr. Telfer's addition to the Board and the departures noted below, the Board now has six independent directors and five non-independent directors. The independent directors now constitute a majority of the Board, as required by Nasdaq Listing Rule 5605. The Company has notified Nasdaq of the changes to the Board.

Departure of Director

On September 14, 2022, Patricia Capel and Ozan Dokmecioglu, both members of the Board, notified Michael Tattersfield, the Chief Executive Officer of the Company, of their resignation from the Board, to be effective on September 15, 2022. Ms. Capel and Mr. Dokmecioglu's notices were accepted by the Company upon receipt. At the time of acceptance, Ms. Capel and Mr. Dokmecioglu were not members of a Board committee. Ms. Capel and Mr. Dokmecioglu's transitions were not caused, in whole or in part, by a disagreement with the Company or the Board. 

On behalf of the Company's shareholders, the Board expresses gratitude for the significant contributions made by Ms. Capel and Mr. Dokmecioglu during their tenure as directors and thanks them for their service to the Board and the Company. Additionally, the Board recognizes the judgment, insight, and wise counsel of Ms. Capel and Mr. Dokmecioglu have been invaluable and greatly contributed to the ongoing success of the Company during their service. The Board wishes Ms. Capel and Mr. Dokmecioglu continued success in the future.