Krispy Kreme Promotes Josh Charlesworth to CEO
September 25 2023 - 7:30AM
Business Wire
Longtime CEO Michael Tattersfield to Remain on
the Board and Transition to Senior Advisor and Krispy Kreme
Ambassador, Effective January 1, 2024
Krispy Kreme, Inc. (NASDAQ:DNUT) today named Josh Charlesworth
as President and Chief Executive Officer, effective January 1,
2024. Mr. Charlesworth brings decades of experience overseeing
consumer brands, and most recently served as Krispy Kreme’s Global
President and Chief Operating Officer after joining the company in
2017.
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Josh Charlesworth named Krispy Kreme CEO,
effective January 1, 2024 (Photo: Business Wire)
As part of the company’s succession plan, Mr. Charlesworth will
succeed Michael Tattersfield, who has held the role since 2017 and
led a significant expansion and transformation, resulting in
revenue growing from $550 million in 2016 to more than an expected
$1.6 billion in 2023. Mr. Tattersfield will remain on the Krispy
Kreme Board, serve as a Senior Advisor and Krispy Kreme Ambassador,
and continue to be a significant investor in the company.
"Today, we celebrate the transformation of Krispy Kreme under
Mike’s leadership, as it grew from a complex, multi-product
primarily-US model to a more global, capital efficient
hub-and-spoke omni-channel model, focused on delivering fresh,
awesome doughnuts, all while nearly doubling the adjusted EBITDA of
the business,” said Olivier Goudet, Chairman of Krispy Kreme’s
Board of Directors. “Mike re-ignited the iconic Krispy Kreme magic,
and we are grateful he has decided to stay on the Board and be an
ambassador for Krispy Kreme. At the same time, we are incredibly
excited to appoint Josh to CEO as he has played a critical role in
Krispy Kreme’s growth for the last six years and will now lead the
company’s next chapter of success and value creation.”
“I couldn’t be happier to transition the CEO role to Josh,” said
Mr. Tattersfield. “Transforming the Krispy Kreme brand and culture
has been a highlight of my career, and I am truly grateful for our
amazing Krispy Kremers who continue to inspire me. Josh’s shared
passion for the brand, our Krispy Kremers, and freakin’ awesome
doughnuts gives me the utmost confidence in our continued success
and I look forward to watching all he’ll accomplish.”
Mr. Charlesworth has served in various Krispy Kreme leadership
roles, including Chief Financial Officer, Chief Operating Officer,
and Global President. He will now assume his new role during a
strong period of growth at the company. Through the implementation
of its growing omni-channel sales strategy and asset-light
distribution model, Krispy Kreme has delivered four consecutive
quarters of double-digit organic revenue growth while expanding its
global reach. The company is also reaffirming full year 2023
guidance and continues to trend toward the middle to the higher end
of the revenue and adjusted EBITDA ranges.
“The opportunity to lead such an incredible Krispy Kreme team is
both an honor and a privilege,” said Mr. Charlesworth. “Together,
we will continue to make fantastic, fresh doughnuts conveniently
available to more and more consumers around the world. I want to
thank Mike for the strong foundation he has built as we pursue our
goal to become the world’s most loved sweet treat brand.”
About Krispy Kreme
Headquartered in Charlotte, N.C., Krispy Kreme is one of the
most beloved and well-known sweet treat brands in the world. Our
iconic Original Glazed® doughnut is universally recognized for its
hot-off-the-line, melt-in-your-mouth experience. Krispy Kreme
operates in more than 30 countries through its unique network of
fresh doughnut shops, partnerships with leading retailers, and a
rapidly growing Ecommerce and delivery business with nearly 13,000
fresh points of access. Our purpose of touching and enhancing lives
through the joy that is Krispy Kreme guides how we operate every
day and is reflected in the love we have for our people, our
communities and the planet. Connect with Krispy Kreme Doughnuts at
www.KrispyKreme.com, or on one of its many social media channels,
including www.Facebook.com/KrispyKreme and
www.Twitter.com/KrispyKreme.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. The word “guidance,” or similar
words, or the negative of these words, identify forward-looking
statements. Such forward-looking statements are based on certain
assumptions and estimates that we consider reasonable but are
subject to various risks and uncertainties and assumptions relating
to our operations, financial results, financial conditions,
business, prospects, growth strategy and liquidity. Accordingly,
there are, or will be, important factors that could cause our
actual results to differ materially from those indicated in these
statements. The inclusion of this forward-looking information
should not be regarded as a representation by us that the future
plans, estimates or expectations contemplated by us will be
achieved. Our actual results could differ materially from the
forward-looking statements included herein. Factors that could
cause actual results to differ from those expressed in
forward-looking statements include, without limitation, the risks
and uncertainties described under the headings “Cautionary Note
Regarding Forward-Looking Statements” and “Risk Factors” in our
Annual Report on Form 10-K for the year ended January 1, 2023,
filed by us with the Securities and Exchange Commission (“SEC”) and
described in the other filings we make from time to time with the
SEC. We believe that these factors include, but are not limited to,
the impact of pandemics, changes in consumer preferences, the
impact of inflation, and our ability to execute on our omni-channel
business strategy. These forward-looking statements are made only
as of the date of this document, and we do not undertake any
obligation, other than as may be required by applicable law, to
update or revise any forward-looking or cautionary statement to
reflect changes in assumptions, the occurrence of events,
unanticipated or otherwise, or changes in future operating results
over time or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230924332628/en/
Investor Relations
ir@krispykreme.com
Corporate Media
media@krispykreme.com
Financial Media Edelman
Smithfield for Krispy Kreme, Inc. Ashley Firlan & Ashna Vasa,
KrispyKremeIR@edelman.com
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