Krispy Kreme Announces Leadership Changes: Retail’s Waiting On The Sidelines
The company named Nicola Steele as new COO responsible for global operations
FollowKrispy Kreme Inc. ($DNUT) on Thursday announced a slew of leadership changes to its senior global team, including the naming of a new chief operating officer, but retail sentiment was in wait-and-watch mode.
“These leaders all have extensive company experience, commitment to operational excellence and passion for our iconic fresh doughnuts and beloved brand,” Josh Charlesworth, Krispy Kreme CEO said.
The company named Nicola Steele as the new COO, responsible for global operations including modernizing doughnut production and maximizing hub-and-spoke efficiency, the company said.
Steele is currently president of Krispy Kreme Australia & New Zealand and has more than 15 years of Krispy Kreme experience.
Retail sentiment on Stocktwits was in ‘wait-and-see’ mode. But one bullish commenter saw promise in its current price chart.
The company also named Dave Skena chief growth officer, responsible for the omnichannel growth of retail shops, DFDs, and digital sales channels worldwide and managing global marketing efforts.
Raphael Duvivier was named president of international, responsible for both international and market development segments through the wider adoption of its capital light franchise model, including in Europe and Latin America, the company said.
It also named Alison Holder as chief product officer, responsible for bringing innovations to the franchise.
In its most recent quarter, Krispy Kreme saw a 12% decline in U.S. net sales due to sale of its majority stake in Insomnia Cookies, but its international net revenues grew $4.6 million, or 3.7%, driven by growth in Canada, Japan, and Australia.
Charlotte, N.C.-based Krispy Kreme, known for its popular doughnuts, operates in 40 countries through its network of fresh doughnut shops and partnerships with leading retailers. It also has a growing digital business with more than 15,500 fresh points of access.
Krispy Kreme stock is down 6.43% year-to-date.
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